American retirement communities, the Florida affordable retirement community market and the housing industry as a whole is set to improve in early 2008 according to a recent study and report from the National Association of Home Builders (NAHB). A number of reasons were given including:
The overall economy and job growth will continue to move ahead at a decent pace, core inflation is under control, the credit crunch in mortgage markets is easing, and the Federal Reserve Board’s interest-rate reduction of a quarter-point on October 31 will help keep mortgage rates low for American Retirement Communities.
The National Association of Home Builder (NAHB) believes that several economic factors (including job growth and inflation control) have primed the American retirement community market and the overall housing market for a comeback. Many real estate markets around the country have been minimally affected by the subprime-mortgage crisis. American and Florida retirement communities as a whole will see less of an impact from the mortgage crisis due to the high volume of cash purchasers and “A” paper mortgages. The association’s short-term forecast for American Retirement Communities and the overall real estate market is based on several assumptions, including skillful management of monetary policy by the Federal Reserve, maintenance of solid growth in personal income and employment, and a manageable wave of home-mortgage foreclosures in the American retirement community market.
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