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US housing growth stronger than expected: Expert

Posted on 17 October 2012

Paul Diggle, Property Economist says: “Some of the pick up in the US housing market this year has been seasonal but the improvement has been stronger than we normally expect during the buying season. So we think in short that this is sustainable recovery. Now the reason it is sustainable is that it has been driven by extremely low level of house prices in the US and housing is now extremely affordable and looks well-valued relative to incomes.
That’s the foundation of much the recoveries being built. It has been helped by a gradually improving wider US economy. But the real increase we have seen in sales to investors have been very important as well and investors are taking advantage of the opportunity to built portfolios of homes in the US and rent them out to households who can’t buy………………………………………..Full Article: Source


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