"We now have the most favorable market for home buyers in several years"
hahahahahahahahahaha....
I will be regularly coming back to these "updated 2007 forecast" by Mr. Lereah and his cronies because it will be fascinating to compare these to reality. In a nutshell they are saying things will go down but stabilize next year. This includes both new and existing homes. And they are saying prices will still INCREASE, albeit slower than during the boom.
I will be regularly coming back to these "updated 2007 forecast" by Mr. Lereah and his cronies because it will be fascinating to compare these to reality. In a nutshell they are saying things will go down but stabilize next year. This includes both new and existing homes. And they are saying prices will still INCREASE, albeit slower than during the boom.
posted by bourgeois at 11:26 AM
1 Comments:
What is so funny? I am the chief economist of the National Association of Realtors.
As inventory rises there will be much more interest in the market from all the increased advertising and marketing. This is a normal cycle in this kind of a market. Real estate is a safe market that does not stay down for long. When people realize that now is the bottom they will jump in in earnest!!! Things are looking up... and way up. There is no slowdown. So get off your computers and invest in your future!
Existing homes will do a better than new homes because they tend to be in big cities that are more desirable than suburbs and exurbs to certain demographics. But the future is expanding cities at their edges so new homes are an incredible investment!
Do not listen to these doomsayer monsters...
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