I truly believe the housing market will continue to expand. But rather than the double-digit price appreciation we've seen, we might see that drop to a 5 or 6 percent appreciation sometime toward the end of next year.
More Quotes from David Lereah:
I worry about a budget deficit more than anything else, ... If the Bush administration continues to cut taxes and build up military, it will result in a higher budget deficit, which will lead to higher interest rates.David Lereah
We're seeing signs of stabilization in the market. Home sales should level out in the months ahead.
David Lereah
Home sales are coming down from the mountain peak, but they will level out at a high plateau -- a plateau that is higher than previous peaks in the housing cycle. This transition to a more normal and balanced market is a good thing.
David Lereah
Last year was the second lowest year on record since Freddie Mac started tracking mortgage interest rates in 1971, and that is one of the fundamental factors in the favorable market conditions that we expect to prevail for this year as well.
David Lereah
The ongoing stimulus of lower-than-expected mortgage interest rates was the primary driver of strong home sales in October, ... Of course all of the other market fundamentals remain sound, so we should only see a modest decline from record home sales this year if mortgage interest rates gradually rise.
David Lereah
This is a big number any way you slice it, and housing is continuing to stimulate the overall economy.
David Lereah
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