Posted by: realtormarkpalace | September 25, 2010

MIT prof: Housing demand about to take off

William C. Wheaton, professor of economics at Massachusetts Institute of Technology, argues that the housing market is due for improvement, calling home construction, “a sleeping giant that is about to wake up.”

Wheaton believes because there has been so little construction that demand exceeds the level of building and it will soon absorb excess inventory.

“Housing construction will not only rise, but it will stay high for a while, which didn’t happen in previous recoveries,” Wheaton predicts.

Source: Fortune, Nin-Hai Tseng (09/17/2010)

© Copyright 2010 INFORMATION, INC. Bethesda, MD (301) 215-4688

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: