The recovery in the housing market has been a catalyst to strength in the market and economic growth. Hollis Greenlaw, CEO of United Development Funding tells TheStreet’s Jill Malandrino this gradual recovery will continue in 2015. On a month-to-month basis, there will be some volatility, but Greenlaw expects housing starts to increase 15-20%. The three variables that can drive this are household formation, wage growth and credit. What has been missing in the recovery thus far is household formation due to unemployment, the U6 number, not the headline number. Strength continues in Texas, particularly Dallas-Fort Worth, Houston and Austin, due to the strong local economy and wage growth. Areas showing improvement are Florida, Charleston, South Carolina and Raleigh and Charlotte, North Carolina. Greenlaw expects that theme to continue in the months ahead.