The U.S. housing market probably will avoid a “double-dip” next year as a recovery depends on job growth, said Susan Wachter , a real estate professor at the University of Pennsylvania’s Wharton School.
Real estate has returned as a favorite topic of conversation at the pair of Starbucks Corp. coffee shops in Granite Bay, a Sacramento, California, suburb where the median income is double the rest of the state.
It was a good day for Mike Yane, a history teacher in Huber Heights, Ohio. A December storm covered the modest Dayton suburb in snow, and Wayne High School opened two hours late. His students who walk to class could use the extra time.
A real estate agent near California’s Silicon Valley seeks sellers by combing property records for people who’ve owned their houses for at least 40 years. A Denver-area broker offers half his commission for a listing, while a counterpart in South Florida hosts happy hour gatherings at bars to loosen up homeowners reluctant to sell.
From Manhattan office towers to apartments in Florida to retail properties in Washington, commercial real estate values are rising, defying predictions of a collapse that would drag the U.S. economy back into recession.