From HousingWire:
What’s in store for housing in 2017?
For the majority of this year, the housing market could not get past low inventory levels, which were continuously cited as the main road block to a fully healthy housing market. Next year should be better, according to the newly release forecast from the National Association of Realtors, but it’s going to take time.
During the residential housing and economic forecast session at the 2016 Realtors Conference & Expo, Lawrence Yun, chief economist of the National Association of Realtors, and Dennis Lockhart, president and CEO of the Federal Reserve Bank of Atlanta, discussed the 2017 housing and economic forecast, along with the economic conditions that support the housing sector.
“It’s evident that demand and sales slightly weakened over the summer as stubbornly low supply limited buyers’ choices, accelerated price growth and hindered some consumers’ belief that now is a good time to buy a home,” Yun said.
Looking to next year, Yun stated that he think the tight supply and affordability issues affecting buyers in many markets will very slowly but surely start to abate.
Yun predicts that housing starts will jump 5.3% next year to 1.22 million.
However, this is still under the 1.5 million new homes needed to make up for the shortfall in recent years and keep up with the growing demand.
The report added that new single-family home sales are likely to total 570,000 this year and rise to around 620,000 in 2017.
And ready to step into those new homes are Millennials. Both Yun and Lockhart stated that they are optimistic that housing demand will include leading-edge millennial households finally dipping their toes into the market at a growing rate.
“NAR surveys from both current renters and recent buyers prove that there’s an overwhelmingly strong desire among the younger generation to own a home of their own,” said Yun. “The housing market over the next couple of years should get a big lift in demand from these new buyers. The one caveat is it’s essential that there’s enough new and existing supply at entry-level prices for them to reach the market.”
According to Yun’s forecasts for next year, existing-home sales are projected to grow roughly 2% to around 5.46 million, and then experience a more prominent jump of 4% in 2018 (5.68 million).
The national median existing-home price is expected to rise to around 4% both this year and in 2017, and by the end 2017, Yun said he expects rates to be around 4.5%.
As for the rest of 2016, Yun added that he expects existing-home sales to finish at a pace of about 5.36 million – the best year since 2006 (6.47 million).
Good Morning New Jersey
Turn of robots? Turn off google/wayback/etc searching?
No way, the 558,000 comments stay.
Of course flee would only want you to delete the comments if you’ve got something to hide. It would make him very presidential
The site loses one idiot and a new steps in to fill the void. It’s like clockwork.
@alfranken
On Tuesday, @IlhanMN is set to become first Somali-American to ever be elected to state legislature in our country.
And she’s a Minnesotan.
yep. remind me, who are you replacing? rags?
Nwnj3 says:
November 7, 2016 at 8:01 am
The site loses one idiot and a new steps in to fill the void. It’s like clockwork.
@washingtonpost
Green Day name-drops Trump in “American Idiot” performance at MTV EMAs
Really disappointed that Trump didn’t get shot the other day, running out of time on my prediction. I mean, not that I want to see the guy get hurt or anything… I just don’t want to be wrong.
The amount of hate towards pumpkin and his predictions. So far the predictions are dead on.
“And ready to step into those new homes are Millennials. Both Yun and Lockhart stated that they are optimistic that housing demand will include leading-edge millennial households finally dipping their toes into the market at a growing rate.
“NAR surveys from both current renters and recent buyers prove that there’s an overwhelmingly strong desire among the younger generation to own a home of their own,” said Yun. “The housing market over the next couple of years should get a big lift in demand from these new buyers. The one caveat is it’s essential that there’s enough new and existing supply at entry-level prices for them to reach the market.””
Flee: your last couple of posts from last night were just a ramble. Have no idea what you mean about drinking the kool aid. As for simpleton that was in reference for your inability to answer simple questions. As for your investing strategy sorry who cares. I learned from the best. As for lost and being right and you base that on yun and the n a r then you really are a simpleton.
How much to sell into this rally, how much, how much?
Why are all of you left supporters changing your handle? Post under your original handle. Identify yourselves.
Fleabag needed a new handle because he is day-trading his daughters to make ends meet.
Flee?,
Do you need an umbrella or something while you campaign for Hillary? A box of crackers or something? Your posts last night were so depressing. I feel for you.
Facts are facts. Are you denying a growing hunger within the millennials to own a home that coincides with their growing wallets?
“As for lost and being right and you base that on yun and the n a r then you really are a simpleton.”
LOL. The high speed traffic in front of his house is getting to him. Pumpkin is now talking about himself in the third person.
The amount of hate towards pumpkin and his predictions. So far the predictions are dead on.
Flee?,
Did I upgrade? Oh yeah, baby, you better believe it! Do you think I’m going to let the layabouts and your kind impede me? LOL! Hey, there’s still time to campaign and donate to the b1tch!
I wonder if today’s stock rally will bring NHMD back above two tenths of a cent. My bet is no.
Now think of how large this millennial population is, and try to grasp the impact this appetite for housing will have on the economy and housing.
Stop being so negative, and just try to think about what is going on here with eyes wide open. The negativity is causing you to look at this with eyes closed.
Not to you.
Lost says:
November 7, 2016 at 9:09 am
Facts are facts.
And look both ways before you cross the street. Especially your street.
Stop being so negative, and just try to think about what is going on here with eyes wide open.
The perfect Millennial house-warming gift: Hot plate and pancake in a can.
The perfect Millennial house-warming gift: Hot plate and pancake in a can.
And a “Stronger Together” bracelet.
Lost/pumps,
Sure milennialls yearn to move out of mommie’s basement and into a home of their own, just as they yearn for a fancy sports car. But that takes a growing economy, something we haven’t had in recent years.
And if Hill wins, well, milennialls should expect ANOTHER four years in the basement. But worry not milinnialls, four years will go by pretty fast, and then maybe you can begin to make a life for yourselves.
In the meantime, enjoy your nacho chips, mntn dew, and tweets for the next four years.
I keep confusing lost and flee.
Had a pretty nice air show yesterday due to the Giants home game. Seems like the fighter jets arrived early (12:20 ) for a 1pm game. Buzzed the house every 10 minutes till 1pm. My kids were going nuts. Incredible how loud they are. I believe Im on the Alternate Teterboro flight path which is sort from teterboro up 17 north along the parkway north into Rockland County.
They really only use this pattern in the summer on Sunday evenings when all the bigwigs are flying back in after the weekend,
Eddie, I believe you scored 2 points in your house hunt -far off the parkway and off the Teterboro flight path.
Alex, Pray tell exactly how a Trump presidency will improve the millennials lives?
Most of his supporters I talk to are worried about the supreme court. I share this concern.
I worry that Clinton would appoint progressive judges.
HouseWhineWine says:
November 7, 2016 at 10:02 am
Alex, Pray tell exactly how a Trump presidency will improve the millennials lives?
Housewhine,
With close to 95 million Americans out of the workforce, 50 million Americans on foodstamps, a record number of homeless living in NYC. Infrastructure long overdue for repair. Businesses closing and/or moving off shore. Milennialls living at home. 10 trillion dollars blown in just 8 years.
Something is seriously rotten with our current direction. You want another 4 years of this Houswhine?
I worry that Clinton would appoint progressive judges.
The Supreme Court will become something that Caligula would approve of! She may even appoint a horse as one of the judges.
@alivitali
“Grab em by the puzzy, Donald!” Girl here in the front keeps yelling.
Crowd turning against her booing and another woman defending Trump.
@billmaher
Thank Trump for the one good thing he did.
He exposed Evangelicals, who are his supporters as the shameless hippocrates they’ve always been.
HouseWhine, when the idea of improvement for some people is that they get to claim to have lived in more comfort than what their kids get to live in, all bets are off (though spot on match for a rather unfortunate stereotype about American parents that people fresh off the boat seem to share).
3b, don’t worry, computer literacy isn’t too difficult to acquire (may be you can blaze the trail and bring along Eddie too).
Alex, you still have not answered what Trump will actually DO to improve our lives.
Nothing to do with computer literacy you DB.
Eddie, the progressive judges may even let gays marry and serve in the military. The world as we know will definitely end!
D-Fens, I worry that Trump will appoint conservative judges. No point in arguing about this, as you won’t change my view, nor will I change yours. We agree to disagree.
Funny that “smart” guy Maher doesn’t know how to spell hypocrites.
3b, when your party’s final case to voters is that “you can’t dedupe 650k emails in a week”, the wise question of “is our children learning” applies!
Housewhine,
Maybe, and it’s a big maybe he can slow down the sinking. He can start by controlling the borders. We have no country with open borders. Relax the burdensome regulations, and lower taxes. Maybe he can have teachers start teaching again, where children are taught how to read, write and do math rather than being indoctrinated by a political agenda. Maybe he can brings the costs of a college education down. That’s a start.
Check “brings”, should read “bring”.
Flee?,
Post under your original handle.
I think this is what the first 100 days look like in a Trump presidency:
– Borders
– Obamacare
– repair relationship w/ Russia and work with them to eliminate ISIS
All things that help every American…including millenials.
BTW, HouseWhine, I don’t worry so much about liberal judges…just the progressives.
Part of the problem in this country is a political system where we are offered a binary choice…Republican or Democrat… Liberalism isn’t actually all that scary in practice as I understand it’s defined purpose to be pro-equality and liberty. This is great when applied in the eyes of the law. We live under a uniquely designed government where individual rights and freedoms are (supposedly) our most important value. Not even “democracy” is valued more…
Conservatism in this country …when applied to the law…would act to preserve our constitutional republic…which was designed to promote individual rights and freedoms. Individual rights and equality are preserved by design in our system of government…so you’d think liberals and conservatives could agree on this…and not need to be members of a blue or red team.
What is there to “progress” to if we are already free?
HouseWhineWine says:
November 7, 2016 at 11:04 am
D-Fens, I worry that Trump will appoint conservative judges. No point in arguing about this, as you won’t change my view, nor will I change yours. We agree to disagree.
Ain’t my party DB!
Aloha from Kaanapali. Life is good. Mahalo
Expat, there is a story about a kid from a low-income household. The kid has an internet addicted, logic-challenged, selfish dad that takes pride in making his family live in a 1-bath condo while he himself had lived in better houses. Despite all that, the kid works hard and goes from an isolated F+ in math to regular A’s within a month.
Turns out that the is also a misogynist that accuses women he doesn’t know as whores, and even publicly says things like “day-trading daughters” to a stranger that said these things: “If a kid can go from F+ to A’s in a month, why not spend even more time and help the kid soar?” and “… as one father to another, let’s both agree that the kids are more important than arguments about politics with strangers on internet”.
What are the chances that he will accuse his own daughter of something similarly horrible in response to her rapid progression and good grades? Especially if his gambling doesn’t work out and he is in a foul mood?
The best case scenario is that Expat is a troll and watched too many previous-generation Bollywood movies with stereo-typical gambling-addicted, alcoholic dads that treat women and girl kids as inferior beings. In those movies, the girl kids usually grow up to be successful, compassionate people. Those movies aren’t documentaries!
Michael Moore
@MMFlint
It’s a clear choice here: Hillary supports war & regime change (which has been a disaster & made each of us a target) and Bernie is 4 peace.
10:10 PM – 9 Mar 2016
Michael Moore
@MMFlint
Just voted!! Woohoo!! HILLARY, dammit! A vote for kindness and compassion and AGAINST misogyny, racism & greed. #USA
6:22 PM – 5 Nov 2016
Expat,
“The perfect Millennial house-warming gift: Hot plate and pancake in a can.”
LMAO right now. Gonna be hard to be serious for this actuary’s call.
Speaking of actuaries, I think they BS more than we do.
Michael Moore is the Elephant Man!
yome,
Are you diving off Black Rock? No longer my favorite place to snorkel off beach but pretty decent.
Tried to get my oldest to snorkel there. She saw one of the bigass sea turtles that live near there swim in front of her. She looked like a Jesus lizard leaving the water. We didn’t get her back in the water with gear until our following trip to the Big Island two years later.
And it turns out Expat and I stayed in the same resort on the same side of the building–identical pictures of the beach from our rooms. Really weird.
David Tepper goes after Trump today, calls him “selfish”.
This from the guy who moved to Florida to avoid a sh1tload of NJ taxes.
and ICYMI, all of corporate America is lining up to bash Trump. After Peter Thiel, they are getting the message.
It seems that the dems learned their lesson from Watergate well, although they don’t consider it a cautionary tale, they consider it a case study.
Suspect that republicans will take this election to mean they need to become even more radical and polarizing.
Problem is its the trump supporters who are the trigger happy ones…they shoot cops in Iowa, kids walking home with skittles, bomb doctors offices, day car centers….
grim says:
November 7, 2016 at 8:38 am
Really disappointed that Trump didn’t get shot the other day, running out of time on my prediction. I mean, not that I want to see the guy get hurt or anything… I just don’t want to be wrong.
Why? you don’t.
Fast Eddie says:
November 7, 2016 at 11:56 am
Flee?,
Post under your original handle.
Last gasp of the lunatic fringe. Liberals already won the culture wars decades ago, Only a matter of time til most of the right wing has died off.
Grim says:
November 7, 2016 at 2:10 pm
Suspect that republicans will take this election to mean they need to become even more radical and polarizing.
Ottoman,
Happy now, d0uchbag?
Liberals already won the culture wars decades ago…
The only thing they really care about is finding more creative ways to pilfer money from the 53% of this country sustaining their lifestyle.
Liberals won the culture war but lost the culture.
The so called liberals wn the culture wars. Whatever that really means. But they are still not happy in fact still miserable. Always looking for the next battle or just create one. I don’t think they will ever be happy.
They will always be miserable because grievance is their stock in trade. Happiness means that they are out of business.
“Only a matter of time til most of the right wing has died off.”
And then we will be living in a leftist paradise, right? The real fascists are on the left, always have been, always will.
I’m going to miss this stuff on Wednesday.
https://www.youtube.com/watch?v=9VALDwnY0CU
The rape whistle was a nice touch.
Comrade, I was there yesterday watching cliff diving
@BBCWorld
Sociologist Charles Murray tells the BBC’s Paul Wood that
#Election2016 will destroy the Republicans
Don’t worry puss-y grabber, President Trump will build a wall, then he’ll build a replacement party. Maybe he’ll run as a Federalist for his second term?
@BBCWorld
Sociologist Charles Murray tells the BBC’s Paul Wood that
#Election2016 will destroy the Republicans
Lol.
Gary says:
November 7, 2016 at 2:28 pm
Ottoman,
Happy now, d0uchbag?
Nom – there are three types of liars: 1.) Liars, 2.) Damned Liars, and 3.) Statisticians.
Speaking of actuaries, I think they BS more than we do.
RE: Cliff Diving
Believe it or not, Cliff Divers are unionized. I have first-hand knowledge of this because by best friend of 40 years is a lawyer. He graduated Seton Hall Law in the mid-80’s, went to work for a Big Law firm in NY and quit after two weeks. He decided he wanted to hang out his own shingle and focus exclusively on Entertainment Law. His first “big” (really small actually) deal was representing the Acalpulco Cliff Diving Union. I’m not sure who they negotiate with, but my friend negotiated their contract that year, probably ’87 or so.
http://articles.chicagotribune.com/1991-03-03/travel/9101200157_1_acapulco-cliff-divers-la-quebrada-la-perla
fleabag – I obviously provoked you, as intended. But apparently not enough to explain what you mean when you repeatedly reference my “day-trading”. Explain your reference and I’ll explain mine. Either that or provide your bid/ask book.
Speaking of trading, intermediate term, not day, I sold the Health care sector into today’s rally.
fleabag – maybe provide a reference for this assertion, as well? I think these are your words, your thoughts, maybe your thoughts on those that live with you? Not mine. It’s entirely possible you have an untreated mental health condition. I’m an engineer with a fast broadband connection to the internet, so probably as close to a very smart doctor that you’ll ever encounter, so I’ll be glad to give you a personal diagnosis. I’m better than a busload of Dr. Patels.
Turns out that the is also a misogynist that accuses women he doesn’t know as whores
This is what we doctors call “projection”. Let’s walk this through step by step. These movies that you speak of, have you, yourself, watched these growing up? How did they make you feel? Do you feel isolated and inferior because living far away from this culture there is no one around you that you believe feels the same pain over growing up these conditions? During your time in the USA, have you met any native-born Americans who grew up watching these same type of movies that you reference? How does this make you feel?
The best case scenario is that Expat is a troll and watched too many previous-generation Bollywood movies with stereo-typical gambling-addicted, alcoholic dads that treat women and girl kids as inferior beings. In those movies, the girl kids usually grow up to be successful, compassionate people. Those movies aren’t documentaries!
EXCLUSIVE: Troubled woman with a history of drug use who claimed that she was assaulted by Donald Trump at a Jeffrey Epstein sex party at age 13 MADE IT ALL UP
http://www.dailymail.co.uk/news/article-3914012/Troubled-woman-history-drug-use-claimed-assaulted-Donald-Trump-Jeffrey-Epstein-sex-party-age-13-FABRICATED-story.html
Expat: he does not have a bid/ask book. He settles trades probably big chip on shoulder.
Ottoman,
I’ll die off happy knowing you went first
….and went in extreme agony.
DFENS.
Was that the case Gluteus was crowing about? The one where I said call me if they get past motion to dismiss?
Seems it never even got that far.
The silver lining to our coming Greek tragedy of economic collapse and civil unrest is that the ottos of the world will have to hide out in inner cities with little food or services, and when they venture out, they’ll be capped on sight in a massive national game of whack-a-mole. If their neighbors don’t cap them first to get their food stamps.
Clinton doing her best to turn out the black vote in Philly – a stage full of white people – Clinton, Springsteen, Obama.
Eddie Ray,
Lets see if we get sanctions and disbarment. You don’t launch that at Trump without expecting the blow back.
What a great article has been written by author. the coming years will be grateful.
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Rory,
One hopes. Just as in the UVA case, courts exist to preserve rule of law, not the mob rule you’re so fond of.
Jesus. Just to prove that Fox News was in the tank for Clinton as well, they are holding a pity party right now for themselves.