Although Hurricane Sandy is considered this election’s October surprise, there is another one: The national housing crisis, which has defined the national economy for the past half-decade, is over. That’s not an automatic boon for President Obama, though. Instead, it’s an illustration that politicians can’t fix everything. Some problems need time — and free-market forces — to fix.
The 2008 election was all about the housing bust. Americans knew they were in trouble as early as 2007, after housing prices had stagnated and then fallen for a year. They could no longer take equity out of their houses to keep up their consumer spending — a looming disaster for the economy, which depends on such spending. But few inside the Beltway noticed until fall of 2008, when falling home prices caused a financial crisis for Wall Street.
Comments
Nicole, another article praising our president, and of course it's not his fault, nothing is. the housing crisis could have been prevented if the democrats in congress listened to the bush administration, one being Barney Frank, who claimed he saw no problems.
Barney Frank in 2005: What Housing Bubble? - YouTubeI do not think the data supports your thesis
http://www.zerohedge.com/news/2012-10-17/guest-post-housing-starts-and-permits-euphoria-may-be-premature
Perhaps the rise is explained by inflation.