Economists: Housing recovery finally here | Money - KCRA Home: "We're seeing the signs of a pulse in a sector that has been flat-lined for a number of years," said Sean Snaith, economics professor at the University of Central Florida.
Determining when the housing market has turned the corner is important for more than home builders and real estate agents. Even before soaring foreclosures sparked a meltdown in financial markets in 2008, the housing market had become a significant drag on the economy. Housing continued to subtract from the nation's gross domestic product right up through early 2011.
Probably just in time for many HOAs which the perfessor warned stand at the brink of insolvency due to accumulated assessment delinquencies spawned by years of recession and residential real estate deflation.