Ivy Weighs In
From the insider:
The housing market will experience a tepid recovery in 2010 but continue to ail for the next couple of years, according to Zelman & Associates.
“Most economists are more optimistic than I am,” noted Ivy Zelman, CEO, of the research analytics firm. Zelman spoke Wednesday about the future of housing at a Dallas loss mitigation conference sponsored by SourceMedia.
While affordability is at record levels, consumers’ balance sheets are hurting, she noted. Before the housing crash, from 2002-2006, home prices rose 28 percent while income grew only 13%, she said.
The good news, Zelman noted, is that affordability (deflation) has brought investors back into the market.
“I call it ‘Investors Gone Wild Part Two.’Read full article by clicking here...
