Residential Re Investment to More Than Double GDP Growth in 2012

Residential Re Investment to More Than Double GDP Growth in 2012

The Housing Wire (2/9, Hilley) reports, "Investment in residential property will grow more than double the rate of gross domestic product in 2012, according to analysts at Bank of America Merrill Lynch." Analysts are predicting "housing starts to average 710,000 per quarter, a 15% gain from 2011 when starts averaged about 620,000. The gain should translate to a 5% increase in residential investment -- double that of GDP growth forecasts."