Katrina impact will boost home prices nationwide
10:05am 09/13/05
Realtors By Greg Robb
WASHINGTON (MarketWatch) -- Lower mortgage rates and rebuilding in the Gulf Coast region will boost home prices nationwide, according to the National Association of Realtors' latest economic outlook released Tuesday. The NAR raised its forecast of sales of new and existing homes and housing starts in the wake of the hurricane. Shortages of building materials, made worse by the rebuilding effort, will increase construction costs, the NAR said. A minimum of 200,000 homes have been lost in the hurricane, the trade group forecast.
Realtors By Greg Robb
WASHINGTON (MarketWatch) -- Lower mortgage rates and rebuilding in the Gulf Coast region will boost home prices nationwide, according to the National Association of Realtors' latest economic outlook released Tuesday. The NAR raised its forecast of sales of new and existing homes and housing starts in the wake of the hurricane. Shortages of building materials, made worse by the rebuilding effort, will increase construction costs, the NAR said. A minimum of 200,000 homes have been lost in the hurricane, the trade group forecast.
posted by James Haft at 6:46 PM
Blogroll Me!
2 Comments:
Talk about a hardcore way of keeping the real estate bubble from bursting!
Tom Knapp
I hope that the market is kind to those who lost their homes and that we as a community do our best to help them as we would hope others wiil come to our aid during future times of need.
jh
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