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  • December 10, 2007 at 10:16 AM #112914
    JustLurking
    Participant

    Existing-Home Sales In 2007 Expected To Recover From Cyclical Low

    WASHINGTON, December 11, 2006 – Existing-home sales are expected to rise gradually in 2007 from current levels, with annual totals comparable to 2006, while new-home sales will continue to slide, according to the latest forecast by the National Association of Realtors…

    Full press release.

    http://www.realtor.org/press_room/news_releases/2006/hef_dec06_existing_home_sales_in_2007.html

    Deja vu…

    December 10, 2007 at 10:23 AM #113047
    cr
    Participant

    Yun is a bigger tool than Lereah. I don’t think anyone cares what these people “predict” anymore.

    NAR chief economist Lawrence Yun said the worst part of the credit crunch has been accounted for in the data…

    The worst is yet to come Chief.

    December 10, 2007 at 10:23 AM #113087
    cr
    Participant

    Yun is a bigger tool than Lereah. I don’t think anyone cares what these people “predict” anymore.

    NAR chief economist Lawrence Yun said the worst part of the credit crunch has been accounted for in the data…

    The worst is yet to come Chief.

    December 10, 2007 at 10:23 AM #113094
    cr
    Participant

    Yun is a bigger tool than Lereah. I don’t think anyone cares what these people “predict” anymore.

    NAR chief economist Lawrence Yun said the worst part of the credit crunch has been accounted for in the data…

    The worst is yet to come Chief.

    December 10, 2007 at 10:23 AM #112929
    cr
    Participant

    Yun is a bigger tool than Lereah. I don’t think anyone cares what these people “predict” anymore.

    NAR chief economist Lawrence Yun said the worst part of the credit crunch has been accounted for in the data…

    The worst is yet to come Chief.

    December 10, 2007 at 10:23 AM #113128
    cr
    Participant

    Yun is a bigger tool than Lereah. I don’t think anyone cares what these people “predict” anymore.

    NAR chief economist Lawrence Yun said the worst part of the credit crunch has been accounted for in the data…

    The worst is yet to come Chief.

    December 10, 2007 at 10:37 AM #112964
    (former)FormerSanDiegan
    Participant

    Thanks, just Lurking. That was cool.

    My favorite quote :

    “By the fourth quarter of 2007, existing-home sales will be 4.6 percent higher than the current quarter,” Lereah said.

    The funny thing is that they were pretty close on all the economic indicators EXCEPT for housing.

    The unemployment rate is expected to be 4.8 percent in 2007, after averaging an estimated 4.6 percent this year. Inflation, as measured by the Consumer Price Index, is forecast to be 3.4 percent for 2006 and 2.3 percent in 2007, while growth in the U.S. gross domestic product is likely to be 3.3 percent for all of this year and 2.3 percent in 2007. Inflation-adjusted disposable personal income is projected to grow 2.6 percent for 2006 and 3.5 percent next year.

    December 10, 2007 at 10:37 AM #113081
    (former)FormerSanDiegan
    Participant

    Thanks, just Lurking. That was cool.

    My favorite quote :

    “By the fourth quarter of 2007, existing-home sales will be 4.6 percent higher than the current quarter,” Lereah said.

    The funny thing is that they were pretty close on all the economic indicators EXCEPT for housing.

    The unemployment rate is expected to be 4.8 percent in 2007, after averaging an estimated 4.6 percent this year. Inflation, as measured by the Consumer Price Index, is forecast to be 3.4 percent for 2006 and 2.3 percent in 2007, while growth in the U.S. gross domestic product is likely to be 3.3 percent for all of this year and 2.3 percent in 2007. Inflation-adjusted disposable personal income is projected to grow 2.6 percent for 2006 and 3.5 percent next year.

    December 10, 2007 at 10:37 AM #113122
    (former)FormerSanDiegan
    Participant

    Thanks, just Lurking. That was cool.

    My favorite quote :

    “By the fourth quarter of 2007, existing-home sales will be 4.6 percent higher than the current quarter,” Lereah said.

    The funny thing is that they were pretty close on all the economic indicators EXCEPT for housing.

    The unemployment rate is expected to be 4.8 percent in 2007, after averaging an estimated 4.6 percent this year. Inflation, as measured by the Consumer Price Index, is forecast to be 3.4 percent for 2006 and 2.3 percent in 2007, while growth in the U.S. gross domestic product is likely to be 3.3 percent for all of this year and 2.3 percent in 2007. Inflation-adjusted disposable personal income is projected to grow 2.6 percent for 2006 and 3.5 percent next year.

    December 10, 2007 at 10:37 AM #113129
    (former)FormerSanDiegan
    Participant

    Thanks, just Lurking. That was cool.

    My favorite quote :

    “By the fourth quarter of 2007, existing-home sales will be 4.6 percent higher than the current quarter,” Lereah said.

    The funny thing is that they were pretty close on all the economic indicators EXCEPT for housing.

    The unemployment rate is expected to be 4.8 percent in 2007, after averaging an estimated 4.6 percent this year. Inflation, as measured by the Consumer Price Index, is forecast to be 3.4 percent for 2006 and 2.3 percent in 2007, while growth in the U.S. gross domestic product is likely to be 3.3 percent for all of this year and 2.3 percent in 2007. Inflation-adjusted disposable personal income is projected to grow 2.6 percent for 2006 and 3.5 percent next year.

    December 10, 2007 at 10:37 AM #113163
    (former)FormerSanDiegan
    Participant

    Thanks, just Lurking. That was cool.

    My favorite quote :

    “By the fourth quarter of 2007, existing-home sales will be 4.6 percent higher than the current quarter,” Lereah said.

    The funny thing is that they were pretty close on all the economic indicators EXCEPT for housing.

    The unemployment rate is expected to be 4.8 percent in 2007, after averaging an estimated 4.6 percent this year. Inflation, as measured by the Consumer Price Index, is forecast to be 3.4 percent for 2006 and 2.3 percent in 2007, while growth in the U.S. gross domestic product is likely to be 3.3 percent for all of this year and 2.3 percent in 2007. Inflation-adjusted disposable personal income is projected to grow 2.6 percent for 2006 and 3.5 percent next year.

    December 10, 2007 at 11:23 AM #113054
    Portlock
    Participant

    How the hell have mortgage conditions gotten ‘better’? I hope he means tighter lending standards signal a return to fundamentals, which will be ‘better’ for everyone in the future.

    Can I suggest that jumbo loan application approvals will probably decrease, and there will be a mad rush for sellers to lower there asking prices below $417k? Maybe it isn’t that simple…

    December 10, 2007 at 11:23 AM #113254
    Portlock
    Participant

    How the hell have mortgage conditions gotten ‘better’? I hope he means tighter lending standards signal a return to fundamentals, which will be ‘better’ for everyone in the future.

    Can I suggest that jumbo loan application approvals will probably decrease, and there will be a mad rush for sellers to lower there asking prices below $417k? Maybe it isn’t that simple…

    December 10, 2007 at 11:23 AM #113219
    Portlock
    Participant

    How the hell have mortgage conditions gotten ‘better’? I hope he means tighter lending standards signal a return to fundamentals, which will be ‘better’ for everyone in the future.

    Can I suggest that jumbo loan application approvals will probably decrease, and there will be a mad rush for sellers to lower there asking prices below $417k? Maybe it isn’t that simple…

    December 10, 2007 at 11:23 AM #113212
    Portlock
    Participant

    How the hell have mortgage conditions gotten ‘better’? I hope he means tighter lending standards signal a return to fundamentals, which will be ‘better’ for everyone in the future.

    Can I suggest that jumbo loan application approvals will probably decrease, and there will be a mad rush for sellers to lower there asking prices below $417k? Maybe it isn’t that simple…

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