Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

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
#NewsNow New league award honors Commitment to Cooperation http://t.co/OPt97flShn
47 minutes ago
.@Fiserv renews $250K benefactor commitment to @fileneresearch #NewsNow #System http://t.co/tRrfmLNv0n
1 hours ago
#NewsNow Debit card use wanes due to security fears http://t.co/RK6WolpxpT
2 hours ago
Are consumers bailing on cards, going back to using cash? via @CrainsChicago http://t.co/PrZLjA4zUv
2 hours ago
Will shoppers avoid data-breached retailers this holiday season? #NewsNow #creditunions http://t.co/nzI44BX2sq
2 hours ago