Report: Low Wages Keep Housing Demand Weak
January 18th, 2012
From Housingwire.com, MHProNews.com learns that a new report from IHS Global Insight contends that wage stagnation and weak consumer confidence among young adults are helping to delay a recovery in housing. The report, which indicates those who do apply for loans face tight underwriting that ends many of their bids, was presented to the United States Conference of Mayors this week. On the positive side, housing starts are predicted to increase in 2012. The starts are largely in the multi-family sector.
(Image Credit: IHS Global Insight)
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Eric Miller - Industry in Focus Reporter | Matthew Silver - Reporter at Large
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L.A. 'Tony' Kovach - Publisher, Editor and Marketing Director. To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com
