Main Line Homes Blog

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Some comments on real estate in 2007

We all hear these wonderful predictions about the market and the economy. I attended an event yesterday where John Tucillo a renowned economist and speaker was talking and just wanted to share some of the highlights.

He started off with some comments on economic forecasters - don't believe them examine the facts for your self as these are just their opinions. What we should be looking at is  1) How worried about inflation is the Fed? 2) Will the falling dollar push up interest rates, shave the trade deficit or both? 3) How will consumers react to the repricing of adjustable mortgages? 4) Will the populists in Congress shut off world trade? 5) Will foreign investors maintain their appetite for american paper?

Much has been written about the state of the real estate market in the last year, many have been speaking about the death of the market, but remember 2006 was the 3rd best year for real estate on record. There have been 10 years of growth and the market like the sock market has taken a breather and will now resume, maybe at a slower pace but we can look forward to continued growth.

Remember there is not ONE market for real estate, there are thousands, each one is local and is determined by what is happening in the local market. if fundementals are strong, like population and job growth the market will grow. There are more people looking and we are noticing a lot more consumers looking for homes.

So don't think the ball is entirely in the buyers court.

If you are buying or selling on or around Tredyffrin Easttown or along the Main Line we can help you,  contact us or connect

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Comment balloon 1 commentNick & Trudy Vandekar, 610-203-4543 • February 22 2007 05:13PM

Comments

Well put and a nice, refreshing, outlook on an often time skewed perception of the market.  Also, this is a nice point to bring up when trying to garner listings for your business I would think. 
Posted by Jason Sardi, Your Agent for Life (Auto & Home & Life Insurance throughout North Carolina) almost 11 years ago

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