If you watch a game, it’s fun. If you play it, it’s recreation. If you work at it, it’s golf.
Veteran housing economist David Berson, formerly of Fannie Mae and PMI Group, shares his thoughts on what the public needs to know about the housing market this year.
First, he predicts that 2014 will be the strongest year for housing activity since prior to the recession. Most economists expect an improved job market in the months ahead, with employment growth accelerating and the jobless rate continuing to fall. This will be the key factor improving housing demand in 2014, even if mortgage rates climb and affordability declines.
Additionally, demographics should start to favor housing activity. To this end, the demographic factor most affecting the residential property sector is household formation. “Household formations are affected by the job market, as people ‘double-up’ when worried about their job and income-earning prospects,” Berson writes. “The Great Recession and the modest job recovery in the years following induced many people who might have lived independently to move in together.”
Berson and colleagues estimate the economy is short by more than 3 million households. If the economy expands at a faster clip in 2014, bringing a more rapid rate of job creation, that should translate into more households, which in turn should raise housing demand.
Finally, Berson says mortgage availability should not worsen between now and the end of December and may actually expand.
Source: “Economist: 3 Major Things You Need to Know About the 2014 Housing Market,” Housing Wire (March 17, 2014)
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Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial Investment Real Estate Broker in Arizona now for 20 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial landspecialist in Phoenix and a Landspecialist in Arizona.
WHETHER YOU LEASE OR OWN
NOW IS THE TIME FOR YOU TO EXPAND, UPGRADE OR INVEST.
we are at on the a rise of the cycle in Commercial Real Estate. so there is only one way and it’s called we are going up and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix. The prices on deals I may get you will not be around forever.
WAITING TO SELL YOUR LAND ? TIMES CHANGE / IT’S TIME
We barely could give land away the last few years, but times are changing. Even in those meager years, I sold more land across the state than most other brokers. Before the real estate crash I was a land specialist in Arizona with millions of dollars of transactions, but then I had to change and also sell other commercial investment properties, which was fun, but I am a Commercial Landspecialist in Arizonal, a Commercial Land Specialist in Phoenix and love to sell land, one acre to thousands of acres.
If you have any questions about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us.
Please reply by e-mail firstname.lastname@example.org or call me on my cell 520-975-5207 or Office:480-948-5554
PLEASE NOTE, I CHANGED BROKERAGES BUT CELL PHONE AND E-MAIL STAY THE SAME.
Walter Unger CCIM
Associate Broker, West USA Commercial Real Estate Advisers
7077 E. Marilyn Road, Bldg 4, Suite 130
Scottsdale, AZ 85254
Office : 480-948-5554
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a little about me and my expertise – video
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