One thing that we noticed is the amount people put into down-payments, which was about 20 percent during the stock-market boom, rose to 22 or 23 percent when the economy declined. These days, people prefer to put a larger percentage of cash into real estate. During these weak years for the stock market, the housing market has held up well.
More Quotes from Lawrence Yun:
Any time there's job creation, historically prices don't go down.Lawrence Yun
Home-buying is not a snap decision -- people mentally prepare for it and search for homes, and this is a three-to-four-month process. Plus, even with the rise in mortgage rates, they're still below last year's figure and still close to 45-year lows.
Lawrence Yun
What we had in the past couple of years was an unprecedented frenzy of activity. That's what we're seeing A decline from a frenzied, unsustainable rate.
Lawrence Yun
I feel comfortable with that, although 40 percent would be in the upper end of possibility. As for the lower end, getting double-digit appreciation will be an easy task for Seattle.
Lawrence Yun
A typical household in the past two years saw about a 20,000 gain in equity. That's not an insignificant chunk. Homeowners see that wealth and use it to buy additional goods.
Lawrence Yun
It's not surprising that Arkansas is up for the first three months compared to last year for the same period . It is following the pattern of affordable regions doing better than the rest of the country.
Lawrence Yun
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Based on Topics: People QuotesBased on Keywords: stock-market
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