Housing: The New Driver of the Economic Recovery?
Recent economic indicators suggest that the state of the housing industry remains strong and that the sector may be emerging as the new driver of the U.S. economy.
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Roland Czerniawski: The housing market is positioning itself as the new cornerstone of the economic recovery. This week's four major data releases pointed to sustained strength in the housing industry, suggesting that the housing momentum continues. Builder sentiment rose in October, while housing starts and permits continued to grow at a healthy rate. Additionally, existing-home prices appeared to be under control, and existing-home sales surged to the highest level since the recovery began.
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