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Housing Outlook 2018
Forbes Magazine Housing Outlook 2018: 6 Predictions from the Experts
Forbes magazine recently published an article with their predications for the housing market in 2018. The full article, summarized below, can be viewed at: Forbes
A Rocky Start
At the beginning of the year is predicted based mainly on the tax revisions recently passed by Congress and signed into law. Americans we need time to figure out how all of the provisions affect them. Several questions come to mind. Will they have more or less take home in their paychecks? How will the self-employed really be affected? What do the changes mean in terms of property tax deductions and interest deductions mean for them? Underlying demand will still push the market as will pent up demand from renters
Inventory will continue to lag behind demand
Data from at least one Real Estate Company shows that shows that in November 2017 there were 653,347 homes for sale across the country. In November 2010 there were 967,604. During that same period of time the population of the United States of America grew by almost 6%. So there are 33% fewer homes for sale and 65 more potential buyers.
Most experts agree that this low inventory is the driving force behind ... more
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