Housing Recovery Signals Are Real This Time, Says S&P

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Posted To: MND NewsWire

After what it called years of tenuous signals indicating that the housing recovery was underway Standard & Poor's (S&P) Ratings Service say this time it is different . S&P's Ratings Direct summarized proceedings of Housing and Commercial Real Estate Roundtable it sponsored on April 9 where a number of staff from various S&P divisions discussed the housing recovery.. Why is this time different? Roundtable participants said the most critical factor is the 6.8 national increase in home prices in 2012. S&P projects that prices will increase another 8 percent this year. "Rising prices are a good cure for a lot of headaches," Erkan Erturk, a senior director in S&P's Structured Finance Research Group said. "Prices also provide a good summary of the broader housing market. Erturk...(read more)

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Source: http://www.mortgagenewsdaily.com/04222013_housing_recovery.asp

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