{"id":3252,"date":"2020-11-04T05:00:25","date_gmt":"2020-11-04T11:00:25","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/real-estate-is-a-driving-force-in-the-economy\/"},"modified":"2020-11-04T05:00:25","modified_gmt":"2020-11-04T11:00:25","slug":"real-estate-is-a-driving-force-in-the-economy","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/real-estate-is-a-driving-force-in-the-economy\/","title":{"rendered":"Real Estate Is a Driving Force in the Economy"},"content":{"rendered":"

\"Real<\/p>\n

As the economy recovers from this year\u2019s health crisis, the housing market is playing a leading role in the turnaround. It\u2019s safe to say that what we call \u201chome\u201d is taking on a new meaning, causing many of us to consider buying or selling sooner rather than later. Housing, therefore, has thrived in an otherwise down year.<\/span><\/p>\n

Today\u2019s high buyer demand combined with low housing inventory means we\u2019re seeing home prices appreciate<\/a> at an above-average pace. This demand is being driven by those who want to take advantage of historically low mortgage rates. According to Freddie Mac<\/em><\/a>:<\/p>\n

\n

“The record low mortgage rate environment is providing tangible support to the economy at a critical time<\/strong>, as housing continues to propel growth.”<\/em><\/p>\n<\/blockquote>\n

These factors are driving a positive impact on the economy as a whole. According to the National Association of Realtors <\/em>(NAR), the real estate industry provided $3.7 billion dollars of economic impact<\/strong> to the country last year. To break it down, in 2019, the average newly constructed home contributed just over $88,000 per build<\/strong> to local economies. Across the country, real estate clearly makes a significant impact (See map below):<\/em>\"Real<\/a>In addition, last week, the Bureau of Economic Analysis<\/em><\/a> announced the U.S. Gross Domestic Product increased at an annual rate of 33.1% in the 3rd<\/sup> quarter of this year, after decreasing by 31.4% in the second quarter. There\u2019s no doubt the growing economy is being fueled in part by the soaring housing market. Experts forecast this housing growth to carry into 2021, continuing to make a big impact on the economy next year as well.<\/p>\n

Bottom Line<\/strong><\/h3>\n

The American Dream of homeownership has continued to thrive in the midst of this year\u2019s economic downturn, and \u201chome\u201d has taken on a new meaning for many of us during this time.\u00a0 Best of all, the housing market is making a significant impact as the economy recovers.<\/p>\n

Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"

As the economy recovers from this year\u2019s health crisis, the housing market is playing a leading role in the turnaround. It\u2019s safe to say that what we call \u201chome\u201d is taking on a new meaning, causing many of us to consider buying or selling sooner rather than later. Housing, therefore, has thrived in an otherwise […]<\/p>\n","protected":false},"author":1,"featured_media":3253,"comment_status":"false","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10157519356927224_105287467588662":"","twitter_15771620_15771620":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[54],"class_list":{"0":"post-3252","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-info","8":"tag-100-financing","9":"entry"},"yoast_head":"\nReal Estate Is a Driving Force in the Economy—NWI Loan Guy Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nwiloanguy.com\/blog\/real-estate-is-a-driving-force-in-the-economy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Real Estate Is a Driving Force in the Economy—NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"As the economy recovers from this year\u2019s health crisis, the housing market is playing a leading role in the turnaround. 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