New single-family housing starts will surge 10 percent next year and result in more than 1 million new deliveries in 2021, federal mortgage agency
The mortgage giant's
The housing construction industry is expected benefit from those trends in 2020 and is now "poised to become an engine of overall economic growth again,"
"Housing appears poised to take a leading role in real GDP growth over the forecast horizon for the first time in years, further bolstering our modest-but-solid growth forecasts through 2021," he said.
Other factors leading to the positive forecast included the likelihood of the
While the 10 percent hike would represent the strongest activity since the 2008 financial crisis, it would still register well below the peak of 1.7 million starts in 2005 and the strong pace recorded in the late 1990s.
Housing demand from millennials is also fueling the surge,
A shortage of
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