Experts in the housing industry, including industry economists,are generally optimistic about the U.S. economy, housing, and remodeling activity. There are “headwinds” as many pointed out, but most of the economic indicators are pointing in a positive direction. As one expert stated, “a strong recovery is likely.” Another stated, “The cards are in play for a decent and fairly strong recovery.”
The U.S. Economy and Housing
There are a number of positives at this time that are making industry experts optimistic. First, mortgage rates continue to be very low compared to historical standards, stimulating demand for housing. Second, the overall unemployment rate is slowly improving, which should further stimulate home sales, as the economy continues to improve. And third, housing starts are also recovering from historically low levels because of the improving economy.