Economic growth, an improving job picture, greater consumer spending, and slight improvements in the housing market are all recent indicators that 2011 is ending on a much brighter note, Fannie Mae reports in its fourth-quarter report.
“It’s important to recognize that we’re ending 2011 on a stronger note than we’ve seen throughout the year,” Fannie Mae Chief Economist Doug Duncan said in a statement. “Unfortunately, however, our 2012 outlook is not as rosy as our forecast for the fourth quarter of 2011.”
Fannie Mae’s Economics & Mortgage Market Analysis Group predicts that despite recent improvements, the housing market will remain “subdued next year — a reflection of the winter season, an expected slowdown in economic activity, and a potential increase in distressed sales.” The nation’s fiscal problems as well as the European debt crisis are also expected to threaten the nation’s economic recovery in 2012.
Source: Fannie Mae
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