U.S. Real Estate Appears Ready for Rebound

Even though the federal homebuyer tax credit is scheduled to be eliminated next month, officials and industry insiders alike remain confident that the US housing market is poised to gain 6 percent this year. Recent news may warrant greater optimism; the Standard & Poor’s Supercomposite Homebuilding Index hit a five- month high March 9, but the real key to a real estate will be employment.

“I would bet even odds that we’re at a bottom and that we’re going to see improvement in the coming months,” said Karl Case, co-creator of the S&P/Case-Shiller Home Price Index and a professor of economics at Wellesley College in Wellesley, Massachusetts.

Source: Bloomberg

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