Industry NewsMarkets & Economy

Election year holds promise for housing market, economy

'Shadow market' of would-be owners, renters could lead real estate recovery

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Economic recovery will be in full swing by October 2012. Why? Because there is a presidential election in November 2012. This is America. This is the way it works. Inventory is coming down in many markets, according to just about any report we read these days, and hopefully employment opportunities will grow not only for those out of work, but for the millions who are underemployed. This time around, an important marketing segment and a proven marketing tool will have an immeasurable influence on the intensity and speed of the recovery. Neither was available for the last recession's recovery. A little known "shadow market" of up to 3 million households According to David Crowe, chief economist for the National Association of Home Builders, there are as many as 3 million "unformed households," as some who in better times would be living on their own are now living with parents and friends. These are families who lost homes and jobs, and those entry-level j...