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<\/a>How We’ll Avoid Another Recession. Image courtesy of cuteimage \/ FreeDigitalPhotos.net<\/p><\/div>\n
<\/p>\n
The economy may be showing signs of slowing lately, but the housing market is likely to keep its positive momentum rolling, writes Lawrence Yun, chief economist for the National Association of REALTORS\u00ae, in a new column for Forbes. In fact, he predicts that it will be housing market gains that enable the overall\u00a0economy to avoid a recession.<\/p>\n
Indeed\u00a0home sales, construction, and prices have all been rising and are expected to continue to increase. Over the last year, existing-home sales have risen 7.9 percent; new-home sales are up 17.7 percent; housing starts have risen 12 percent; and the median price of sold homes is up 6.4 percent (all along on a year-to-date basis).<\/p>\n
The main reason behind the gains is a rising population, Yun notes. At the turn of the century\u00a0about 282 million people were living in the United States,\u00a0but that number has jumped to 322 million today. Taking into account births and deaths and international immigration, about 2 to 3 million additional residents arrive in America every year.<\/p>\n
\u201cAs long as Americans believe in the American Dream of steadily moving up the economic ladder \u2013 from renting to a starter-home to a better home to eventually a retirement comfort home \u2013 there are plenty of legs in America that will be moving around in the upcoming years to further boost the housing market,\u201d Yun writes.<\/p>\n
Source: \u201cHousing Will Still Expand Despite Economic Weakness,\u201d Forbes (Oct. 26, 2015)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"How We’ll Avoid Another Recession The economy may be showing signs of slowing lately, but the housing market is likely to keep its positive momentum rolling, writes Lawrence Yun, chief economist for the National Association of REALTORS\u00ae, in a new column for Forbes. In fact, he predicts that it will be housing market … <\/p>\n
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