The United States does not know the bottom of the housing crash, but in February,2009 the trend turned back unexpectedly. U.S. housing performance started in February of this year was 580,003 which has soared by 22.2% as compared to about a month ago, the Commerce Department announced on March 17, 2009. It is the largest increase for 19 years after the 1990 increase.
The application number of housing construction permit was 540,7000 which was increased by 3% compared to the previous month. The core of the housing construction market, the performance of the construction of 350,007 housing increased 1.1% compared to the previous month. Multi-family houses has risen a whopping 80%, however, the number of new permit applications of the building housing has decreased 44.2 percent compared to last year.
With the recent rebound in stock prices of some indicators of the economic recession hit the bottom of the visible signs of increased housing construction and the performance expectations for the improvement of the economic recovery as it is true that the beginning of last year.
But as the building houses has still shown sluggish performance, so short-term rally is going to be pointed out.
Meanwhile,the U.S. housing market fell into a worse situation in the future, the mortgage companies will result in foreclosure.
Bloomberg quoted the market experts, the U.S. housing market bubble, the collapse of the U.S. housing holder Sub Subcontractor of 1,500,000 people by 80 million people can not repay the existing loans, housing has been defaced seizure.
In addition, more than 100,000 people in the construction and housing-related industries lost a new job, about 100 additional subprime mortgage companies will go bankrupt.
U.S. housing market boom ended in 2006 and the insolvency of the sub-prime mortgage companies has increased. Housing-related industries and the employment situation is worsening. America’s overall unemployment rate close to the lowest level in five years, but many mortgage-related jobs were lost.
Housing seizures (Foreclosure) reduce the number of housing starts in the United States. It is the natural result of the seizures of government-led House Construction Services restructuring of the mortgage loans. However, the constant monitoring is needed about the amount and the time through the auction process.
Some investors in the stock market said the housing of the official remarks hit the bottom,but this continues to show improvement-related indicators are not yet clear.
The housing seizures (Foreclosure), and the number reached a record in two consecutive months, the United States are adding to worries about the housing.
RealtyTrac’s survey shows the foreclosure record in April, 2009 was 34.2 million which is the highest recorded since the survey. This represents an increase of 32% against the previous year’s month.
Construction