With baby boomers approaching retirement age in record numbers, and home values returning to a point where their owners are finally comfortable enough to sell, it’s easy to understand why builders are optimistic about the 55-plus housing market these days.
Americans are more confident in the U.S. economy than at any point in the past five years, thanks to surging home values, a brighter job market and record-setting stock prices. Stock averages last month extended the year’s explosive rally. Further gains in consumer confidence could help the economy withstand the effects of higher taxes and federal spending cuts that kicked in this year. Spending by consumers drives about 70 percent of economic growth.
NEW YORK (AP) — With new public stock offerings for guitar maker Fender and travel booking website Kayak on deck this week, there are signs demand is starting to grow for IPOs after a five-week freeze triggered by a steep decline in financial markets and exacerbated by Facebook's rocky May 18 debut.