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Texas has old, new candidates to offer as presidential hopefuls

The Republican Party has long been riven between its establishment and conservative wings, a split that plays out every four years in the race for the White House.

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Two from Fort Worth appointed by Gov. Abbott to university boards

Steve Hicks, a University of Texas System regent who has been a vocal opponent of regents who have criticized the system’s flagship campus in Austin, was reappointed to the board by Gov. Greg Abbott on Thursday. 

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Fort Worth draws closer to deal with Lancaster developer

City staff are planning to introduce the developer Feb. 3 at a meeting of the City Council's Housing and Economic Development Committee.

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Compass BBVA names Happel CEO for Fort Worth

BBVA Compass has appointed Brian Happel, most recently the Fort Worth city president, its chief executive officer of Fort Worth.

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Two Fort Worth Baylor medical properties acquired

Baylor Surgical Hospital of Fort Worth and Baylor Surgical Hospital Integrated Medical Facility are among three facilities acquired by Carter Validus Mission Critical REIT II Inc.

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Home building up in November

 

Home construction increases in November. Photo courtesy of CNN. 

Chris Isidore

NEW YORK (CNNMoney) -- Builders rushed to start homes in November, with that key measure of the housing recovery enjoying a huge one-month jump.

Housing starts grew at an annual pace of 1.09 million, up nearly 30% from a year ago. The issuance of building permits was also strong, up 7%.

Still the pace of housing starts was less than half of the peak levels during the housing boom in the middle of last decade, and was even 25% below the monthly average over the course of the last 50 years.

"Because of this, the impressive acceleration in residential investment which has occurred in 2013 should extend through 2014," said Joseph LaVorgna, chief U.S. economist at Deutsche Bank, in a note Wednesday.

A survey by the National Association of Home Builders released Tuesday showed builders reporting the best sales conditions for single family homes in eight years.

The recovery in the housing market has been one of the key areas of strength in the U.S. economy. Years of low levels of home building since the bursting of the housing bubble have left the nation with a tight supply of new homes for sale.

A strong improvement in home prices and a drop in unemployment and home foreclosures have combined to drive a rebound in demand for homes.

Mortgage rates have been rising steadily for months since hitting a record low in the spring. That has also increased demand as potential buyers look to make a purchase before rates go higher.

"Collectively, the starts and permits figures suggest that the housing sector is not being impinged by higher mortgage rates," said LaVorgna. "While affordability has declined somewhat due to rising rates and increasing home prices, it is still extremely high relative to history. In fact, housing affordability is higher now than at any point from 1971 to 2007."

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