Looking forward the outlook for housing is mixed. I do expect some slowing of home sales and price appreciation going forward.
More Quotes from David Lereah:
Some of the cooling is coming from non-boom markets such as Detroit, where there are job problems. I do worry about those markets if the economy continues to slow, though we do expect the economy to pick up in the first quarter.David Lereah
If you paid your mortgage off, it means you probably did not manage your funds efficiently over the years,
David Lereah
So, 2005, when we look back, was the best year in housing in recent memory, probably of all time.
David Lereah
What we have here is still the soft-landing scenario we've been predicting over this year. I suspect the increase we have in this report is an aberration because of the weather.
David Lereah
This is a very tight inventory situation, which is continuing to drive home price appreciation.
David Lereah
Clearly, mortgage interest rates that are near 30-year lows are bringing many buyers into the market at the beginning of the traditional home-buying season, ... and we're counting on the Federal Reserve to continue its accommodative interest rate policy to keep housing strong.
David Lereah
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