Economists Give Housing Mixed Reviews

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Real Estate Agent with Nesbitt Realty at Condo Alexandria 0225-089134

Home prices that approach what they were before the bust are at least five years away, says Peter Morici, a University of Maryland professor of economics.

“I think we’ll see housing values rise 20 or 25 percent and then more gradual appreciation,” Morici says. The problem, he believes, is the oversupply of housing. “Supply is a couple of years ahead of demand,” he says. Other housing observers were less optimistic. “Foreclosures are still going to bite the market. Given the preponderance of negative housing data, we may see another leg down,” says Joseph Brusuelas, president of Brusuelas Analytics. Source: Bloomberg, Courtney Schlisserman (03/30/2010)

Source: Bloomberg, Courtney Schlisserman (03/30/2010)

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Rainer
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Tamara Elliott-Deering
Central Metro Realty - Austin, TX

What market is he looking at? I've been reading posts from people in CA and North Texas and reviewing my own Central Texas market and we have no where near an oversupply. Some markets have a 1 - 2 month supply of houses on the market and those are still on market because they have some flaw. I guess it just goes to show all real estate is local.

Jan 17, 2016 11:17 PM #1
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