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Housing packs punch for U.S. growth in 2013 and beyond

Posted on 05 February 2013

The housing rebound is broadening to other parts of the U.S. economy and will likely lend impetus to growth through 2013 and beyond. Climbing home prices are lifting household wealth and boosting the purchasing power of consumers.
Declining mortgage delinquencies and foreclosures are buttressing bank balance sheets, giving them greater leeway to lend. And rising property- tax revenue is fortifying the finances of state and local governments, alleviating pressure on them to cut budgets. “The housing recovery will kick into a higher gear as the year progresses,” said Mark Zandi, chief economist in West Chester, Pennsylvania, for Moody’s Analytics Inc. ………………………………….Full Article: Source


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