A stronger housing market is also underpinning the economy. Spending on all construction projects rose 0.9 percent in December to an $885 billion annual rate, the fastest since August 2009, Commerce Department figures showed on Feb. 1. Homebuilding outlays increased 2.2 percent to the highest level since November 2008.
The gains have generated more optimism among companies such as Bloomfield Hills, Michigan-based PulteGroup, the largest homebuilder by market value.
“The combination of incredibly low mortgage rates, continued increases in rental rates and especially rising home prices, and very low -- and likely to stay low -- inventory levels for housing lead us to believe that 2013 will be a better year for U.S. housing than 2012,” Chief Executive Officer Richard Dugas said on a Jan. 31 earnings call.
Realtors are also benefiting. Figures from the National Association of Realtors show 4.65 million previously owned homes were sold in 2012, up 9.2 percent from the previous year and the biggest increase since 2004.
How about you libs digging deep, and paying for the hundreds of billions of dollars that Freddie and Fannie is deep in debt, and the tax payers are going to have to bail out again.....because you forced banks to loan to flakes that you knew couldn't pay off their mortgage loans, and F & F bought up all the bad subprime loans.
Housing up? Leftist media also reported that this year's debt created by Obama and the libs will be down!...down bellow a TRILLION DOLLARS for the first time since Obama took office. Every year Obama has added a TRillion dollars to the debt! Now Obama is trying to sell the lie that the debt is actually good! Folks are benifiting from the contracting economy because of the massive federal spending. Telling his followers he believes are stupid that this debt creation is a good thing, and actually grows the economy. And for instance. The left is saying that paying for a bucks worth of unimployment insurance actually stimulates the economy by $1.73 !! Only a lib would believe that #$%$.