March 2017 Volume 43, Number 3 | |||||
Rising Home Values Haven’t Shaken Consumers’ Memories of the Financial CrisisIn a keynote speech at the National Retail Federation’s annual conference in New York, William Dudley, president of the Federal Reserve Bank of New York, said that consumers’ memories of the recession are one reason why retail sales have remained sluggish. Although home prices and values have increased on average nationally, these recent gains aren’t enough to persuade homeowners to spend against the growing value of their homes. According to the National Retail Federation, retail sales rose 4 percent in November and December. However, retail spending continued to remain choppy during the 2016 holiday season as traditional retailers struggled to meet sales goals due to consumers’ reluctance to spend money backed by the future value of their homes. |
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How Trump’s Tax Plan Will Impact Real Estate Average Real Estate Commissions Decline to Low 5 Percent Range Consumer Sentiment Declines in January but Remains Near 13-Year High Foreign Real Estate Investors Still Confident About U.S. Real Estate Mortgage Applications Decline 12 Percent to End 2016 New Report Names CEO of Zillow as Most Powerful Person in Residential Real Estate Rising Home Values Haven’t Shaken Consumers’ Memories of the Financial Crisis U.S. Real Estate Sales Could Be Affected by China’s Capital Controls | |||
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