Home Construction Logs Steady Recovery
7/19/2012
Fort Wayne Journal Gazette/AP
WASHINGTON - Home construction is making a long-awaited recovery that could help energize the U.S. economy. From areas like Phoenix that are finally arising from the housing bust to cities like Chicago and Minneapolis where strong economies have lifted demand, residential construction is healthier than at any time since sales and prices collapsed five years ago. The improvement has been gradual. But builders are responding to interest from buyers drawn by reduced prices, record-low mortgage rates and rising rents, which have made home purchases comparatively appealing. And the supply of new homes has shrunk to near record lows. That's pushing developers to build more. Link
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