BUILDING CONFIDENCE The National Association of Home Builders predicts a 35 percent jump in single-family housing starts for this year.
sure altogether,” says Matt Sanchez of MarketPlace Realty, a real estate investment fi rm. With prices rising, it won’t be long
before the earth-movers start revving their engines. Last year, fewer than 20 percent of builders saw sales con- ditions as favorable according to the NAHB’s Housing Market Index. In January, builder confi dence
VIRGINIA ILLINOIS OHIO
scored 47 percent, the highest level since 2006. That means nearly half of all builders see con- ditions as favorable. Wells Fargo
CALIFORNIA
& Co. CEO John Stumpf recently told CNBC the housing market has “turned
Homebuilding typically accounts
for about 5 to 6 percent of GDP. But many other industries feed off of the housing market. Rising home prices mean millions
of homeowners are no longer under- water on their mortgages. Now, they may open up their wallets to travel, remodel, or buy a new car. “Housing is a key driver of the U.S. economy,” Mekael Teshome, a PNC Financial Services economist, tells The Cincinnati Enquirer. “Not only does it create construction jobs, it has a high multiplier eff ect. Retailers will benefi t, fi nancial institutions will benefi t, even local tax revenues will benefi t.” Analysts say that as home prices
rebound, fewer homeowners feel locked into their current home out of necessity. Also, the young college graduates who took shelter from the bad economic winds and moved back with their parents are now ready to get on with their lives.
“The market is changing again, and
the auctions aren’t what they used to be. Banks are doing more short sales, loan mods — more things to keep peo- ple in their houses and avoid foreclo-
the corner.” Of course housing starts still will
not soon approach pre-recession lev- els, and a global economic slowdown could put the brakes on the recovery.
Walmart Cashes In on Location, Location, Location
O
ne sure sign real estate is heating up again: Walmart is getting into the business.
Yes, the big-box chain that off ers you fast-food
outlets, nail salons, bank branches, and optical stores will help you close on a mortgage as well.
The mega retailer has struck big deals with the
Phoenix-based West USA real estate firm to open walk-in of ices in Walmart stores nationwide. West USA already operates nearly 20 walk-ins in four states; each of ice will have several agents and a mortgage lender. Scores of new of ices will open this year. Walmart and West USA are betting that real estate agents looking for a
WALK-IN West USA Realty of ice at a Walmart in Peoria, Ariz.
competitive edge will be drawn to the guaranteed foot traf ic that the stores typically generate. — N.S.
MARCH 2013 | NEWSMAX 21
ILLINOIS/SCOTT OLSON/GETTY IMAGES / OHIO/TY WRIGHT/BLOOMBERG VIA GETTY IMAGES / CALIFORNIA/AP IMAGES WALMART/COURTESY OF WEST USA REALTY
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