Hoboken Homes Gone in 60 Minutes Signal U.S. Recovery: Mortgages
For the latest sign of a U.S. housing rebound, Toll Brothers Inc. Chief Executive Officer Douglas Yearley points to Hoboken, New Jersey: A couple torn between two condos last month at the sales office for its Hudson Tea complex decided to think about it over lunch. When they returned an hour later, both units were gone.
“People feel like now is the time to buy and they aren’t isolated to one building in Hoboken,” Yearley said in a May 23 conference call with analysts after the Horsham, Pennsylvania-based luxury homebuilder reported that quarterly orders for new homes surged 47 percent. “Confidence is up. The interest rates are there and they’ve been waiting so long to move on with their lives that they came out this spring.”
Enlarge U.S. homebuilders are reporting their most-improved spring selling season in seven years as record low mortgage rates, job gains, and shrinking inventories are drawing buyers to sales offices that have been quiet since the property market collapse. After dragging the economy into recession, housing is set to“contribute modestly” to growth, according to Vincent Foley, a credit analyst for Barclays Plc in New York
bloomberg.com
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This housing recovery will really be fantastic for NovaTION Companies. In 2011 Streetlinks Grew Revenues 221% Q/Q During the three months ended March 31, 2012, we continued to grow StreetLinks and significantly increased its appraisal volume. For the three months ended March 31, 2012, StreetLinks had revenues of $41.7 million, as compared to $18.9 million for the same period in 2011.
StreetLinks has produced net positive cash flow and earnings in 2011 and the three months ended March 31, 2012 and is expected to continue producing net positive cash flow and earnings for the foreseeable future. ((Will we see another 200% GROWTH FOR 2012$$$$$$$$. This will help Mango Movers also $$$$
Kirby |
