The "experts" are forecasting a much improved U.S. economy next year. A panel of business economists is calling for a 3.1 percent U.S. gross domestic product growth in 2015. That is up from a 2.2 percent expansion this year.
The improved job market continues to push the jobless rate down. The National Association for Business Economics (NABE) says the unemployment rate will be 5.4 percent by the end of next year. The NABE economists also expect inflation to remain under control next year since oil prices have been sliding. The group says the global growth rate for 2015 will be 3.4 percent.
What impact will all of this have on the home building industry? We can only hope that appraisaled values will continue to rise with the tide and that credit qualifcations will be less restrictive. If all of that comes together, 2015 could really be a better year for us.
The Greater Hattiesburg Homebuilder Association, a chapter of the National Association of Home Builders, serves licensed builders, associates of the construction industry, and consumers in Marion, Lamar, Forrest, Covington and Perry counties. Our association focuses on formal builder education (MSBOC licensure and CPB certification), informing builders of market news,and giving builders the tools to respond to prospective legislation through our state counterpart, the Home Builders Association of Mississippi.
Membership in our association keeps builders accountable to consumers. The Greater Hattiesburg Home Builders Association is the name consumers trust when they look for a contractor.