Housing Guru Sees Soft Landing
By Staff -- Home Textiles Today, 1/9/2006 12:00:00 AM
Washington — —
Washington — Hampered by higher interest rates and high housing prices, the housing market may be cooling off, but it's not a bubble about to burst, said David Lereah, chief economist of the National Association of Realtors.
Drawing a vivid picture, Lereah said, “Today's housing market is more like a balloon than a bubble. Balloons don't burst.”
Extending the analogy, Lereah went on, “You can put air in a balloon and it expands or you can take air out and it shrinks. Various metro markets got real hot over the last four years. Air went into those balloons and the prices went up. But now, air is coming out of the balloons. We're hearing a hissing sound, not a pop. There's a soft landing ahead.”
Finding a silver lining, Lereah said, “Sellers' markets are transitioning to buyers' markets. As inventories rise, prices soften somewhat, many buyers get the break they've been waiting for and are able to get into the market.”
We would love your feedback!
Most Recent Resources
- Getting the most out of offline leads
- Free Shipping and the Importance of Onsite Promotion
- Should Branded Manufacturers Participate in Flash Sales?
- Rugs 101 - Special Edition
- How Big Is Your Label
- Choosing a Web Site Developer
- Convergence: Tie Your Online & Offline Experience...
- Social Networks to Social Shopping
- Why Brands and Their Retailers are Facebook’s Biggest...
- Web Based Intelligence Gathering
- The Future of Tablets
- Shopatron: Bicycles & eCommerce
- A Guide to Holiday eCommerce Success
- Mattress Buying 101 - Connecting with Consumers
- Designing Your Brand’s Website for eCommerce
- Global Sourcing in 2010: Doing More With Less
- Comparing Four Options for Turning Web Site Traffic into...
- Are You Prepared for the 2009 Holiday Season? A Branded...
- Design, Develop, Deliver: The Three D's to Digitally...