Tag Archives: Fannie Mae says housing to boost GDP for first time in seven years

The housing market is expected to make a positive contribution to gross domestic product for the first time in seven years in 2012, albeit a very modest one, Fannie Maesaid Tuesday. The government-sponsored enterprise reported GDP growth of 2.8% in the fourth quarter of 2011 and predicted a growth rate of 2.3% in 2012, up from 1.6% last year. Fannie said any contributions from the housing sector will be modest. Housing also showed signs of improvement late last year with existing home sales rising in December for the third consecutive […]