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Housing Market Prediction from Zillow Economist

In this video Zillow’s chief economist talks about where the national housing market is headed.  He expects more weakness for the housing market and then an “L”-Shaped recovery.

I don’t see the logic of higher home prices unless we see real household income rise in this country. It has been stagnant for almost ten years in terms of Purchasing Power, not dollar amounts. Also with unemployment at where it is today who knows when real household income will rise again. We fueled the boom via low interest rates and no lending standards. Well, lending standards are back and historical low interests rates will not last forever.  I hope there are new jobs created and the economy can turn around.

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March 25, 2010 - Posted by | Uncategorized

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