This article comes from http://www.crainscleveland.com/ by Bloomberg. With the new economy and consumer confidence at a all time high, that’s good news for housing and a lot of other sectors.
“Single-family starts jumped 5.3% to 930,000, the highest since September
2007. The South and West regions also were at 10-year highs. Permits, a
proxy for future construction of all types of homes, fell 1.4% to a 1.3
million rate from a 1.32 million pace. However, single-family permits
nationwide were at their highest levels since August 2007.”
With new builds basically non existent for the last 10 years, because of lending and building regulations. Now that the government has pulled some of the regulations back, now builders are building. It is like Sim City the game, I don’t know if yo have ever played it or not? You have to keep building and expanding your area in sim city for economic growth and a good tax base. No tax base your area dies.
That is what is happening now cities in most areas are expanding. I know that both Cleveland and Phoenix are booming with new builds. Even my Broker is building a new home to re sale.
“The latest results make it more likely that residential construction
spending — which subtracted from economic growth in the second and third
quarters — will add to the pace of U.S. expansion in the
October-December period, which is already shaping up as a solid quarter.”
The stock market and economy have been setting on the sidelines waiting for solid economic growth. Looks like we are getting it.
“The November gains are encouraging because they’re driven by
single-family home building, which tends to spur economic activity and
jobs in a bigger way than apartment construction. Single-family permits
have increased for three straight months, also indicating a sustained
pipeline of work for developers.”
More people working means they need real estate. That is where I come in I’m Brett and I help buyers and sellers get results. Call 216-703-5740 Century 21 Premiere and 602-363-6551 EXP Realty and Playa Azul