This paper will briefly explore how recent economic indicators such as record low interest rates for mortgages and housing starts should motivate house builders to strategize for continued economic growth. At this time while the housing bubble has not burst, it is important for such companies to focus on strategy in order to remain competitive when the bubble does burst.

             This type of boom in originations has spawned tremendous economic growth with regards to employment rates, re-urbanization, new home building, consumer spending and confidence and made hundreds of billions of dollars for the players involved. The housing boom kept this country afloat during the darkest moments after September 11, 2001 when other industries like travel, hospitality, entertainment, energy and telecommunications seemed uncertain. One can argue that such a relationship is cyclical; what comes around goes around in the manner of economic trends such as recession and depression but this is not the case with this correlation. People will always need housing. Below are strategies housing providers can implement to continue stimulating growth.

             Bennett Hecht writes that economic strategies for housing begins on the local level. He writes, "Housing development is a site-specific, self-sufficiency strategy designed to help developers create jobs and other income-generating opportunities for residents of their properties" (p. 1). .

             This economic development strategy is founded on four objectives:.

             (1)Decrease Cash Outflows from Housing Developments. Whenever possible, developers should purchase goods and services from sources within their housing developments, instead of "importing" them from other communities. This promotes local growth and activity.

             (2)Better Use of Space. Housing developers should use available space to sponsor the delivery of much needed services or facilities, such as child care, GED classes, or a convenience store.