February 24th 2012
UPDATE 3-US home resales at 1-1/2 yr-high, supply falls
U.S home resale value rose to 1-1/2-year high last January. This pushed the market in the lowest level in nearly 7 years. The National Association of Realtors said that existing home sales has increased 4.3%, the fastest it has been since May 2010. The west gained the biggest percent (8.8%) among the four regions. Also, residential construction is expected to the growth this year after 2005. The Federal Reserve suggested many different ways the policymakers can help the beaten-up market, which is to buy more mortgage-backed securities. If they buy more mortgages, the mortgages rates will get even lower.
I believe that the government should do some action about these events. The economy is already in some much burden and losing a home makes it harder to live. Plus, families need homes, but most of the families cannot afford to buy a home. On the other hand, I don’t believe that the government should use all our reserved money because when we really need it, it won’t be there. So we should think wisely how we will solve this issue.
Mutikani, Lucia. "UPDATE 3-US home resales at 1-1/2 yr-high, supply falls| Reuters." Business & Financial News, Breaking US & International News | Reuters.com. N.p., 22 Feb. 2012. Web. 24 Feb. 2012. .