The economy continues to recover, as real GDP advanced a very healthy 4.4 percent in 2004, which was the best performance since 1999. Incomes and job creation are on the rise. Mortgage rates remain very low. Sales are high and unsold inventory levels are low. The Housing Market Index stands at 70. While some markets are stronger than others, overall, this has to be the best month ever to be a home builder. Our grading system of the economy and the housing market is a "bell curve" model, with statistics at an all-time high receiving an "A," statistics near the long-term average receiving a "C," and the worst times ever receiving an "F." In this grading system, it is OK to be a "C" student. Here is our current report card: Economic Growth: C The economy grew at a 3.1 percent clip in the 4t...
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