Home | Business News | Browse by Publication | M | Mississippi Business Journal

Building, sales continue to be bright spots in economy. (Focus Real Estate).

Article Excerpt
While most of the U.S. economy has been nothing to brag about, home building and sales activity spurred by the lowest interest rates seen in decades have been credited with preventing the economic slowdown from turning into a full-blown recession.

"The homebuilding industry has held the whole U.S. economy up for the past two years," said Charles Porter, president of the Homebuilders Association of Mississippi. "Without the strength in the housing industry, the economy wouldn't be as stable as it is now. Your large homebuilding companies are also leading the pack as far as stocks in the New York Stock Exchange."

Porter, who is president of Porter Construction Inc. in Jackson, said the Jackson market - Hinds, Rankin, Madison counties - has been fairly steady. In Jackson as well as elsewhere in the country, low interest rates make buying a home attractive. In some cases, refinancing has allowed people to reduce their monthly mortgage note, allowing them to...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!