Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Housing holding its own Hampel tells IMarketWatchI
MADISON, Wis. (10/22/09)--U.S. housing construction has strong fundamentals and is prevailing against economic forces, Bill Hampel, chief economist at the Credit Union National Association, told MarketWatch Tuesday. “[Housing construction is] holding its own against some strong headwinds,” Hampel told MarketWatch. The industry’s fundamentals are sound because of low mortgage rates and relatively low home prices. There’s also pent-up demand for housing, he added. Housing starts are down 28% in the past year, with starts of single-family homes 8.7% below par, and starts of apartments and condos nosediving 69%, MarketWatch said. In September, new construction of U.S. housing was basically flat with a seasonally adjusted annual rate of 590,000, the Commerce Department reported Tuesday. Factoring in September’s 0.5% estimated increase, housing starts have been flat for four consecutive months, following a large rebound earlier this year from historic lows, analysts said. Since hitting the bottom in January, housing starts have increased 21%, analysts added.
Other Resources

RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
6 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
6 hours ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
9 hours ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
10 hours ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
11 hours ago