Posted by: islamicfinancingnews | July 4, 2013

Another Good Reason For Islamic loans

islam4 An improved economic outlook is positive news for home builders and housing starts in the U.S. and another good reason to consider Islamic loans free from Riba to purchase a home. According to data from the U.S. Commerce Department published in a recent post on Bloomberg.com, sixteen thousand (almost 36%) out of forty-five thousand new homes sold during the month of May are awaiting construction. This represents a 26% increase since 2012 for houses waiting to be built. Part of this positive outlook in the housing industry has resulted in a 29% increase in Standard & Poor’s/Homebuilding Index over the past year.

Economist Neil Dutta, head of U.S. economics at New York based RenMac (Renaissance Macro Research LLC) points out increased demand for new homes should also also help to drive production for homebuilding supplies like lumber and cement. Additional factors such as builder optimism, increased sales of appliances and items needed to furnish these homes, and more hiring can complement this picture of economic growth.

Practicing Muslims in the United States and their Canadian neighbours to the north can find all the information they need about obtaining proper Islamic mortgages to purchase a home or refinance their current mortgage by following the links back to the parent website of this blog.


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