A Quote by Ben Bernanke
Following an extended boom in housing, the demand for homes began to weaken in mid-2005. By the middle of 2006, sales of both new and existing homes had fallen about 15 percent below their peak levels. Homebuilders responded to the fall in demand by sharply curtailing construction.
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Housing has led our nation's economic expansion over the past few years, accounting for 16 percent of our Gross Domestic Product. New housing starts and home sales hit record levels from 2003 through 2005.
Investor demand for distressed property has been healthy, as rents rise to levels that can cover investors' costs while they wait for properties to appreciate. Giving investors a small tax break should further juice up demand, supporting prices for distressed homes and the market in general.
A strong economy causes an increase in the demand for housing; the increased demand for housing drives real-estate prices and rentals through the roof. And then affordable housing becomes completely inaccessible.
Mitt Romney and I don't agree on every issue and certainly housing is one of them. When you look at what is going on here in Southern Nevada, you can't say you got to let the housing market hit bottom. We have been bouncing along the bottom for years. And the fact is we have to do everything possible to: 1) keep people in their homes and 2) get people who are out of their homes back into their homes.
Most of America never noticed, but the 1990s were good times for trailer homes, a.k.a. manufactured housing. From 1991 to 1998, annual sales of manufactured homes more than doubled, to 374,000 from 174,000.
One area in which we can be certain mass immigration has an effect is housing. More than one third of all new housing demand in Britain is caused by immigration. And there is evidence that without the demand caused by mass immigration, house prices could be 10% lower over a 20-year period.
We have this obsession with broken homes. Everyone wants to find a problem with it, but not me. I had great homes. Both my parents remarried and I got more people to learn from!
Housing has always been a key to Great Resets. During the Great Depression and New Deal, the federal government created a new system of housing finance to usher in the era of suburbanization. We need an even more radical shift in housing today. Housing has consumed too much of our economic resources and distorted the economy. It has trapped people who are underwater on their mortgages or can't sell their homes. And in doing so has left the labor market unable to flexibly adjust to new economic realities.
Right now, we continue to see demand at very strong levels. It's tough to find a Wii now. If we hit 100 stores in the area, we would find Wiis in only 20 percent of them today. That tremendous strength we had in December really wiped the pipeline clean. Our pipeline, the retailer pipeline. And so with that kind of demand, it doesn't suggest the need for any pricing actions.
The construction of social housing and the attempt to support families seeking to buy their own homes are all projects from the 1960s and '70s. It all sounds old-fashioned, but it is actually completely modern.
We need a national ambition to build hundreds of thousands of new homes a year, both private and socially-rented - led by someone who will not take no for an answer and who will push for diggers in the ground and homes for all come what may.
The only reason a road is good as every wanderer knows / Is just because of the homes, the homes, the homes to which one goes
The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
My father builds homes. So I grew up around the idea that you can take a piece of land, and you can bulldozer it and build new homes on it. You can create something new.
The key to house prices is the share of foreclosure or short sales in the total housing market. When that share rises, house prices will fall, because distressed properties sell for significantly less - currently around 25 percent below non-distressed houses.
We demand that segregation be ended in every school district in the year 1963! We demand that we have effective civil rights legislation - no compromise, no filibuster - and that include public accommodations, decent housing, integrated education, FEPC and the right to vote.
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