Even if it never does, owning a home may still be a wealth building proposition for two reasons: you are locking in your housing costs with a fixed-rate mortgage while rents continue to rise, and your mortgage will be paid off at some point in the future.
The Commerce Department said U.S. builders began building new homes at the fastest pace since mid-2008 in March, a seasonally-adjusted annual rate of 1.04 million homes.
At any rate, a group of municipal power companies in the American Midwest reckon that building a wind-powered compressed-air plant to take advantage of the blustery Great Plains will be worthwhile.
The inventory-building in the first quarter of this year was responsible for 67% of the 3.7% annual rate rise in real GDP and 36% of the rise of 1.6% in the second quarter.
The expectations of a rate hike are building up even as banks announce their revised lending rates in response to the 25-basis point increase in rates last month.