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Strengthening Economy Expected to "Drag" Housing Along

Friday, January 23, 2015

Fannie Mae's economists expect the economy to strengthen in 2015 and that will "drag" housing into a better cycle this year.  The company's forecast for the year includes a moderate acceleration of economic growth, "driven by strengthening private domestic demand, especially consumer spending, amid continued low gasoline prices, firming labor market conditions, rising household net worth through both financial and housing wealth, improving consumer and business confidence, and reduced fiscal headwinds."  They project growth will accelerate from their estimate of 2.6 percent in 2014 to 3.1 percent in 2015.  This stronger climate "should lead to improving income prospects, underpinning a higher rate of household formation in 2015."

 

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