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Is the recovery still a year off?

Housing Recovery Still a Year Away

 
Builderonline.com recently reported that despite signs in November of a housing market recovery, reality will see the beginnings of a true turn-around sometime in 2013.

Some of the stats that seasoned the article were noteworthy and not terribly promising, including:

  • Home sales in 2011 were expected to plummet to record lows.

  • One-quarter of 25- to 34-year-olds is living with parents, 15 percent cannot find work and a majority of them are living under the weight of college loan debt.

  • The national unemployment rate is predicted to linger around 8 percent for at least two more years.

  • It also isn't encouraging to learn that, according to the article, many of the forecasters who are predicting the recovery to hit in 2013 also made the same predictions about 2009, 2010 and 2011.

    Let's hope they're on track to get it right this time.



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