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Housing Industry to Play Key Role in 2014

Posted in Industry News

Housing Industry to Play Key Role in 2014

The U.S. economy has kicked off 2014 on a high note according to a recent article from Bloomberg Personal Finance. A few reasons were cited for the strong start including increased builder and consumer confidence. Builders overcame an onslaught of bad weather at the end of last year and have begun work on more homes than what the 2014 forecast predicts.

Although housing starts have fallen from November’s annualized rate of 1.11 million, the highest since November 2007, they are still above average and on the way back to what’s considered normal in the industry. The article goes on to tap housing as one of the most significant industries that will continue to propel the country’s economic growth.

“When I look at 2014, I’m looking at continued solid growth,” said Michael Carey, chief economist for North America at Credit Agricole CIB in New York, who was among the most accurate forecasters of the housing and production reports over the past two years, according to data compiled by Bloomberg. Housing “is going to be a contributor to growth in the next year, clearly, and the industrial sector as well.”

Read the full article from Bloomberg here.

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