25 April 2012 20:35 [Source: ICIS news]
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David Crowe, chief economist for the National Association of Home Builders (NAHB), said despite some recent negative numbers on new and existing home sales and declining builder confidence, the housing sector is poised for a 2012 recovery.
Speaking at the association’s semi-annual housing construction forecast, Crowe said home building will begin its recovery this year “and build momentum this year and into next year”.
“We should reach 500,000 housing starts in 2012 and it will be even more solid in 2013,” he said.
In normal economic times, the
In the core market for new single-family homes,
The housing market is a key downstream consumer sector for the chemicals industry, driving demand for a wide variety of chemicals and chemicals-based products such as plastic pipe, insulation, paints and coatings, adhesives and synthetic fibres, among many others.
The American Chemistry Council (ACC) estimates that each new home built represents some $15,000 (€11,400) worth of chemicals and derivatives used in the structure or in production of component materials.
“This year we’ll see a decent sales market,” Crowe said. “Not a great market, but a decent one.”
He said with the
Paul Hodges studies key influences shaping the chemical industry in Chemicals and the Economy
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