Dive summary:
- David Crowe, the National Association of Home Builders' chief economist, sees housing starts going up 21.5% this year from 2012's total, and low interest rates are among the drivers.
- There are head winds, however, to limit the progress, including tight lending standards, problems with appraisals and a shrinking supply of building lots.
- Crowe also noted the current uncertainty in Washington over how to resolve spending and debt problems, including continued talk of doing something with the mortgage-interest deduction, and that affects consumer confidence.
From the article:
"Nearly every measure of housing market strength – sales, starts, prices, permits and builder confidence – has been trending upward in recent months and we expect to see gradual but steady growth along these lines in 2013." ...
