News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
Frank Anton, Vice Chairman / BUILDER / February 21, 2013
Moody’s chief economist, Mark Zandi, says “it’s just arithmetic” that makes him an optimist.
At 1.1 million units, Mark Zandi’s 2013 housing starts forecast is more optimistic than most (the consensus forecast is about 950,000 units). But he says 5 sets of fairly simple numbers justify his bright outlook.
Set #1: At about 3.5%, the 30-year fixed rate mortgage is at its lowest point in 2 generations.
Set #2: The dollar volume of mortgage lending, while still depressed compared to historical averages, is increasing steadily.
Set #3: Housing values, after spiking