Not So Bad After All
Also, check out what Doug Duncan, Chief Economist for Fannie Mae, had to say: “Our forecast for housing and mortgage activity remains unchanged amid continued [improvement] seen at the start of the second quarter. We expect total housing starts and total home sales in 2015 to rise about 10 and 5 percent, respectively, with mortgage originations increasing approximately 23 percent to $1.46 trillion. Given the uneven economic growth in the U.S. and slow growth around the globe, interest rates are unlikely to surge. This should enable the housing market to better withstand some headwinds from higher rates this year than in the past.” That’s good news! So don’t fret!
Sure, we may have expected some higher numbers than what was originally forecasted, and it seems like the auto industry is on a higher rise since the increase in household income than the real estate industry for the past few quarters, but research by Fannie Mae has also found that individuals are saying they plan to invest in buying a home rather than renting this upcoming year. You know what the means for all us right…we’re actually going to be okay and we’re doing a lot better than we did last year! With more people buying homes, this means more business for all of us – from Banks, to the Mortgage Industry, to Investors, to Appraisal Management Companies, to Appraisers all the way down to homeowners.
So, what do you think? It’s not so bad after all, right?
Thanks for reading!