Housing Market to Drive GDP

Bill Greiner makes a fairly convincing argument in Forbes that the housing market will be driving real GDP growth upwards of 3% over the next 18 months. He distinguishes between existing home sales and new home sales, and gives an explanation of key factors: employment, confidence, affordability, alternatives, and tax impact. Additionally, he looks at the comparative value of owning vs. renting, and comes up with some compelling and surprising numbers (at least at the national-average level).

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