“We’re only one year into this recovery…” Doug Yearley said on Bloomberg TV yesterday morning.
“Remember, we had seven of the worst years in housing that this country has ever seen. This recovery, we believe, should be a lot longer than just one or two years.”
Yearley is the CEO of Toll Brothers, a nationwide homebuilder. When asked if he thought the strength in housing could continue, he didn’t mince words…
[ad#Google Adsense 336×280-IA]”We feel really good this spring,” he said.
“Our orders are up 49%.”
He explained that there’s simply “no inventory.”
And “no inventory” is one of the key ingredients in seeing higher home prices ahead.
You always have to take a CEO’s comments with a grain of salt.
It’s his job to be optimistic.
But I fully agree with his assessment. As you probably know, I have been extremely optimistic on U.S. housing for years now – expecting big gains.
Our True Wealth Systems numbers back me up…
In short, U.S. housing is the greatest value it’s ever been in our lifetimes – and probably the greatest value it will ever be.
I objectively define value as “affordability.” Affordability is a function of 1) house prices, 2) mortgage rates, and 3) income. The first two crashed to an epic degree, making U.S. housing more affordable than ever.
Even better, house prices are finally going up. We have our uptrend.
So housing is incredibly affordable, and your risk is now reduced because the uptrend has returned.
This is it.
This is as good as it gets. Housing is about to soar. And this moment is your lowest-risk moment to buy. So don’t wait a moment longer…
Want to know what to do with your money?
It’s simple… Go buy a house.
Good investing,
Steve
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Source: DailyWealth