May 25, 2017
2016 was a solid year for housing, with many positive trends. Weighing the positive and the negative, most experts remain optimistic overall about home prices, but to the detriment of future affordability The following are housing and mortgage predictions published by Forbs for 2017 and beyond Home prices and rents will continue to rise, albeit but more slowly, but still faster than incomesAffordability will worsen resulting in weak homeownership ratesMortgage rates will be volatile. It is unclear whether Credit availability will improve. No housing bubble in siteSupply will improve but remain short. More Millennials will become homeowners--and renters. Competition will grow fiercerPolicy changes will stimulate demand more than supply.Political uncertainty will be replaced with policy uncertainty. Joining the podcast today is Domonic Purviance a Senior Financial Specialist at the Federal Reserve Bank of Atlanta. Domonic is responsible for conducting an ongoing assessment of risks associated with residential real estate markets and the potential impacts they may pose to the financial system. Prior to joining the Federal Reserve, Domonic served as the President of Market Advisory Services, LLC, a research, and consulting firm that provides analytics for developers, homebuilders, and lenders as well as a Senior Consultant at Metrostudy, a residential real estate research company.