An impressively bullish note on U.S. housing from RBC this morning:
The fact that 2.4 million foreclosures are set to roll off credit reports in 2016 is quite bullish by itself. Add in the other factors mentioned above and it’s not hard to get pretty bullish on U.S. housing and in turn, the U.S. economy (due to home ownership multiplier effects).
Over the next couple of years millions of foreclosures from the 2009-2011 time period will fall off of credit reports and create a huge pocket of potential housing demand. It’s hard to overstate the potential bullish impact of this unleashed demand.
Co-authored with Maggie Sadowska of Mega Lux Homes
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