After dragging the U.S. economy down for years, the housing sector is now emerging as a major engine of growth.
Mark Zandi, chief economist at Moody’s Analytics, said he expects a lot more housing and non-residential construction in 2014. “This will be a significant factor promoting growth,” he said at Monday’s breakfast organized by the New York chapters of the Appraisal Institute and the Counselors of Real Estate. “A key reason why the recovery has been weak so far has been housing.
Article Courtesy of Real Estate Weekly.