Gregory Bull, Associated Press
This year people have been taking a magnifying glass to President Barack Obama's presidential reign to determine if changes happened naturally or because he had a hand in them. According to Trulia's chief economist, Jed Kolko, the housing market did not improve because of Obama.
"Even if the housing market is, in important ways, in better shape than it was four years ago, Obama can’t take much credit for it," Kolko said in the article.
Kolko credits Obama's 2009 stimulus plan for blocking an even worse recession. "But there's little that the Administration did — or could have done — to influence the path of home prices and construction and their human costs," he said in the article.
The housing market has improved because of affordability in mortgage rates and trends found in the housing prices. Trulia's tracking showed housing prices falling up until January 2012 when the market finally began to turn around, according to the report.
The drop in the inventory of homes for sale has also improved the market.
"Since 2009, this glut of available, vacant homes has been absorbed as fewer newly constructed homes have come on the market in 2009-2012 and fewer foreclosed homes are waiting to be sold," according to the article.
Email: firstname.lastname@example.org Twitter: @erinhong
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