Ivy Zelman calls bottom in housingPosted by: jkdanu / Category: Buy A Home In USA
In the last three month, the S&P Home Building index has shot up close to 50%. Top Analyst and Housing Expert Ivy Zelman: “It’s been six long years and I believe the fundamentals are now at that inflection point that we have confidence is really starting to come to fruition and we’re excited about it”. “I think we’re just in the beginnings of a very admittedly tepid recovery, but we’re coming from such an anemic base that the numbers percentage wise could actually be pretty big going into 2012/3. we’re looking for about a 20% increase, and we think that we’ll continue the upward trajectory as job growth gets better and family formation, household formation continues to come from very depressed levels.”….”There’s a lot of foreclosures that still need to be worked through, but we see very strong investor demand. In fact, we see so much demand that there’s not enough inventory to satisfy these investors right now with capital flowing from Wall Street”. “I think renters want to be homeowners. they want to have the freedom of being in their own home. Our surveys suggest there are probably close to 3 million people today that are renting that want to own and have the down payment…” …. read more and see the video.