The Real Deal New York

Fitch exec: Housing recovery is here — and it’s unstoppable: VIDEO

January 18, 2013 11:00AM

The housing recovery is here and it cannot be stopped, only moderated, Robert Curran, managing director and lead homebuilding analyst at New York-and London-based Fitch Ratings, told Reuters. Curran is joining an ever-larger chorus of experts predicting the both home price and home sales will rise this year, providing that no unforeseen economic
disaster strikes.

“Last year was clearly an up year for the major housing macros, a lot of things came together very nicely and we have come off of a very low low,” Curran said. “I don’t think there are major risks to the recovery. There are issues that could moderate the level the further recovery that we are experiencing in 2013. But short of a meaningful economic recession, I think we are still in tact.”

However if the Federal Reserve ends its policy of buying commercial mortgage-backed securities in order to keep interest rates artificially low, it would certianly have a major negative impact on the recovery going forward. [Reuters]Christopher Cameron

MENU