In the last two years housing has been the beneficiary of a weak economy.
More Quotes from David Lereah:
The underlying fundamentals of the housing market are solid and sales will stay historically strong, but they will trend modestly down from current peaks. Masked by the data are early signs that housing is starting to wind down from a boom and will transition into an expansion - in other words, a soft landing.David Lereah
Home sales are coming down from the mountain peak, but they will level out at a high plateau -- a plateau that is higher than previous peaks in the housing cycle. This transition to a more normal and balanced market is a good thing.
David Lereah
Since 1971 there have been only five months when mortgage interest rates were lower, and all of those have been during the last year and a half.
David Lereah
Although home sales have eased, the tremendous momentum in price appreciation was sustained in the fourth quarter because tight inventories still favored sellers.
David Lereah
I truly believe the housing market will continue to expand. But rather than the double-digit price appreciation we've seen, we might see that drop to a 5 or 6 percent appreciation sometime toward the end of next year.
David Lereah
This is a very tight inventory situation, which is continuing to drive home price appreciation.
David Lereah
Readers Who Like This Quotation Also Like:
If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy's greatest contribution to general economic prosperity and maximum employment.Ben Bernanke
Palestine is our unforgettable historic home. The very name would be a force of marvelous potency for summoning our people together.
Theodor Herzl
Travelers, there is no path, paths are made by walking.
Antonio Machado