Here's a transcript from NPR's All Things Considered featuring Foxborough, Mass. home builder Greg Spier and two economists who look at how this housing recovery is different from those in the past.
It's been almost a decade since the worse housing crash since the Great Depression. And while the housing market has healed in some ways, in others it's far from normal. Single family home construction is rebounding from the trough, but still far below historical norms and the home ownership rate just keeps falling.
CHRIS ARNOLD, BYLINE: For 30 years, Greg Spier has been a home builder in Foxborough, Mass. And he feels pretty lucky to be standing on a job site.
GREG SPIER: A lot of people have gone out of the business. If I didn't have rental property that I was able to, you know, use and cash flow during the downturn, I wouldn't have survived.
ARNOLD: But today at least, Spier has some blueprints tucked under his arm that he's brought to show his carpenters. They're framing out what's going to be a beautiful new 4,000-square-foot house. Spier says just this summer he's finally seen a shift. He says at least some people are buying new homes again. He hasn't even officially listed this one for sale yet...
SPIER: And I've got a customer looking at it on Saturday. So - and, you know, this is without even using a broker, people that just drove by.