Jacksonville Real Estate Market

Jacksonville, Florida

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We Have Hit Construction Spending Bottom

Posted on | February 2, 2011 | No Comments

In an interview with the Fox Business Network, Toll Brother’s Builders’ CEO Douglas Yearley points out that here in America, we have hit the bottom of the “construction spending bottom” and that now we need only to repair consumer confidence to see a rise in home purchases in 2011.  This is great news as housing starts are up from a slow Summer we experienced in 2010.  Mr. Yearley points out that with an expected sustained and gradual growth in the job market, we should expect to see more new and pre owned single family home sales.  The major obstacle he sees is if the US government moves ahead to remove the personal income tax yearly mortgage deduction.  I certainly am in total agreement that a governmental move such as this would be a colossal blow to all working Americans who own their own home.

The interview can be viewed in it’s entirety here:   Real Estate Market Prediction 2011 as interviewed by Fox Business News.


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