1/16, 4:27 PM (Source: TeleTrader)
more TeleTrader news

US economy has upside for housing sector - Fed's Bowman

Member of the Board of Governors of the Federal Reserve System Michelle Bowman stated on Thursday that the United States economy "now has an obvious upside for the housing sector" as the currently positive job market "translates into higher incomes" and, in turn, raised confidence for people to acquire new homes.

Bowman stressed that there is an increased percentage of young adults who are "forming households of their own," adding that the home demand will be homebuilding will be boosted by the rising rate of household formation.

The outlook for US housing sector is "optimistic," Bowman concluded.

Breaking the News / MS