CoreLogic Economic Outlook…TomChilders
As 2015 winds down and many start to prepare for 2016, the forecasting methods and crystal balls will be dusted off. Overall, people say 2015 has been a good year and 2016 holds similar promise. One key driver and indicator according to many contractors is the housing market which has been good this year and will hopefully continue in the coming year.
In this video, Frank Nothaft, Chief Economist of CoreLogic, helps to take a little of the guess work out. He covers both the macro environment and housing implications. He explains how the growth estimates in the 2% to 3% range should be just enough to put downward pressure on the nation’s unemployment rate resulting in 5 housing market features.
He then discusses the 5 key features in depth.
- Mortgage rates up
- Housing formations add significantly to housing demand
- Rental demand stays strong
- Owner-occupied housing market will see increases in prices and sales
- Single family mortgage originations will fall
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