A firmer floor for US housing

It seems the sector which sparked the GFC is nearing equilibrium, with small falls expected to precede a solid bottom by mid-year.

As in Australia, US consumer confidence is inextricably linked to the value of houses – and the slump in US housing is what has prevented the 2011 American stimulus measures from working as hoped. It looks like at last, in 2012, there is some good news coming.

But if American growth is to stay in the black, the US needs to stop the house price decline, because many Americans have their businesses attached to their property in some way and so are starved of capital.

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