The Residential Real Estate Crash Index Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Dave who wrote (928)	10/24/2001 9:27:23 PM
From: David Jones	Read Replies (1) of 306849

Sharpen your pencils. Although these kinds of reports can be self serving. There's bits of truth to pick out if you know what your looking at. imo dave list.realestate.yahoo.com Wednesday October 24 6:44 PM ET Housing rebound due in 2002 Inman News Features Real estate economists, gathered at the National Housing Center, expect the nation’s housing industry to hold up fairly well through a general decline in economic growth during the final two quarters of this year. David Seiders, chief economist of the National Association of Home Builders, offered a relatively upbeat short-term outlook for housing, despite the climate of uncertainty. It has been "extraordinarily difficult" to assess the state of the economy in the aftermath of Sept. 11 and "there has never been this degree of uncertainty on where the economy stands," he said. Seiders predicted the nation’s gross domestic product will decline 1 percent in this year’s third quarter and 2 percent in this year’s fourth quarter. The unemployment rate is expected to rise from 4.9 percent to 5.8 percent in the second quarter of 2002. Single-family housing starts in the fourth quarter of this year are expected to trail the previous quarter by 10 percent. Seiders said the "short, relatively mild" downturn should be followed by "quite strong" growth during the second half of next year. David Berson, chief economist of Fannie Mae, cited surveys by the University of Michigan showing that consumer sentiment has rallied from post-Sept. 11 lows to levels not nearly as deep as they were in previous recessions. Berson predicted moderation in home price gains over the next year, but said it is extremely unlikely that home prices will turn down nationally because new home inventories are at near-historic lows. David Lereah, chief economist for the National Association of Realtors, said foot traffic of prospective home buyers was down about 10 percent immediately following Sept. 11, but now is off only about 5 percent. He said housing activity next year should return quickly to levels prior to the downturn.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next