Calculated Risk blogger agrees: ‘We’re in Nirvana for housing’ [VIDEO]

Household formation, construction boom bode well for real estate and economy

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One of the first people to warn about homes becoming overvalued during the boom, finance and economics blogger Bill McBride, says housing's future is "so bright, (he's) gotta wear shades." With household formation expected to pick up, and trends in new-home sales and housing starts indicating increased investment in real estate, McBride thinks housing and the overall U.S. economy is in great shape. Calculated Risk's Bill McBride talks with Inman News about some of the metrics that make him optimistic about housing's future. Given his take that household formation is solidly on the rise, McBride says new-home sales and housing-start numbers are likely to double from current levels before the recovery's over. Source: Calculated Risk New-home sales have risen steadily in recent months, to a seasonally adjusted annual rate of 454,000 in April. That's up 29 percent from a year ago, but there's still lots of room for continued growth from post-recession lows, McBride s...