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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (146098)	10/1/2014 12:59:25 AM
From: tejek	Read Replies (1) \| Respond to of 149317

A number of reasons. Real estate is looking toppy as pending home sales have declined appreciably. Not in all markets. Just in those where there were a lot of speculators/investors. The speculators are leaving the market now that they've gotten the low hanging fruit. In addition, with interest rates about to rise, that will take its toll on home sales. Since 2009, big corporations have swooped in to buy up homes to turn them into rental properties. That has driven incredible house price gains since then. Those opportunities are are fewer and more far in-between now. So housing will quickly become a negative driver of our economy, since many people can't afford homes now and will find them even less affordable when rates rise. There are a lot more people who can afford homes that are still renting. As the economy improves, they will buy. I don't expect the housing market to boom like it did under Bush but I think it will do okay going forward.