There is some thinking that the pace of the housing recovery is unsustainable and that we may be heading for another housing bubble. However, Jonathan Smoke, the Chief Economist of realtor.com explains the basic difference between 2005 and today:"The havoc during the last cycle was the result of building too many homes and of speculation fueled by loose credit. That's the exact opposite of what we have today."If we look at the number of new single family housing starts over the last 30 years, we can see that the numbers of housing starts during the current recovery (2012-Today) are still way below historic averages, and are far less than the numbers built during the run-up to the housing bubble (2002-2006).New Construction Numbers: Now Versus 2005 | MyKCMA single family housing start is defined as "the number of permits issued for construction of new single family housing units. Housing starts are an important economic indicator due to its extensive spill over benefits for the other sectors of the economy (retail, manufacturing, utilities)."Bottom LineCurrent demand for housing actually calls for more new construction to be built - not less. We should at least return to historically normal levels.
Author:Heather F Davidson Phone: 609-209-7581 Dated: September 8th 2016 Views: 139 About Heather: I'm an agent whose business is built on the promise of exceptional customer service. If you are sel...
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Specialties: Buyer's Agent, Listing Agent, Relocation, Short-Sale
I'm an agent whose business is built on the promise of exceptional customer service. If you are selling your home or searching for that special place to call your own, you deserve to work with someone you trust-someone who you know has your best interests in mind. Whatever your particular Real Estate need, I'll work hard to make sure that you are completely satisfied. I have the knowledge, experience, and dedication that it takes to get results.
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Heather was truly awesome to work with! She was very knowledgeable, explained everything to us as we went along and always answered our questions very quickly whether we called or emailed her. She is super friendly and made the whole process so easy! When my fiancé and I first started looking for a realtor, we had reached out to a few people before Heather was recommended to us. Each realtor I reached out to, I asked them to "reply all" so my fiancé would see the email chain as well. Heather was the only one who actually "replied all" and answered every question that I had right off the bat. I knew from our first communication that she was going to be great to work with, and she really was! I would definitely recommend her to anyone in the Central/South Jersey market."