Tuesday, October 12, 2010 — Though economists have marked many milestones as the alleged bottom of the housing market, according to Beacon researchers, current home affordability is pointing to the worst being behind us.
Beacon Economics analyzed home affordability and came away feeling optimistic.Beacon Economics founding principal Christopher Thornberg, whose firm advises a variety of business clients, says the high level of affordability is likely to drive demand and reduce the stock of excess inventory, ultimately resulting in the need for new housing, a rise in prices, and a pickup in new construction."While prices may fluctuate modestly over the next several months, we believe the worst of the housing crisis is behind us," says Beacon Economics Research Manager Jordan G. Levine. "We expect prices to stabilize around current levels and likely be higher in the next 12 months." It's a great time to buy..interest rates are at an all time low and housing prices have bottomed out!! I can help you with all of your real estate needs!
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