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The main topics of discussion for the day were trends with respect to residential properties (Singlefamily and multifamily residential), appraisal and valuation, development and construction.
One of the articles I submitted states that U.S. home prices will begin a gradual recovery by next year, according to a survey of 92 economists and other housing analysts. The analysts surveyed by on average expect home prices, as measured by the S&P/Case-Shiller national index, to rise about 12% in the five years ending Dec. 31, 2014. As of Dec. 31, that index was down about 28% from its peak level in mid-2006. The article has also a contrasting point view in that excess inventories, including those from looming down and that much of the excess supply is in remote or economically depressed regions and so isn't relevant to most potential buyers, who will instead bid up prices in more desirable areas.
Another article countered this optimism stating that ominous shadow inventory of distressed properties hanging over the industry will lock home prices into a downward trajectory for the remainder of this year, with property values starting out 2011 even lower than they were in 2009. Market trends charted show that inventory levels are indeed moving higher and the influx of shadow inventory is beginning to show in the market.
Another topic discussed this evening included appraisal and valuation issues. One article argued that the financial regulatory reform bill signed into law recently could result in more accurate home valuations, higher appraisal costs, faster closings, more completed transactions and maybe even higher prices, according to critics of a controversial quasi-governmental regulation that the legislation eliminated.
The main topics of discussion for the day were trends with respect to residential properties (Singlefamily and multifamily residential), appraisal and valuation, development and construction.
One of the articles I submitted states that U.S. home prices will begin a gradual recovery by next year, according to a survey of 92 economists and other housing analysts. The analysts surveyed by on average expect home prices, as measured by the S&P/Case-Shiller national index, to rise about 12% in the five years ending Dec. 31, 2014. As of Dec. 31, that index was down about 28% from its peak level in mid-2006. The article has also a contrasting point view in that excess inventories, including those from looming down and that much of the excess supply is in remote or economically depressed regions and so isn't relevant to most potential buyers, who will instead bid up prices in more desirable areas.
Another article countered this optimism stating that ominous shadow inventory of distressed properties hanging over the industry will lock home prices into a downward trajectory for the remainder of this year, with property values starting out 2011 even lower than they were in 2009. Market trends charted show that inventory levels are indeed moving higher and the influx of shadow inventory is beginning to show in the market.
Another topic discussed this evening included appraisal and valuation issues. One article argued that the financial regulatory reform bill signed into law recently could result in more accurate home valuations, higher appraisal costs, faster closings, more completed transactions and maybe even higher prices, according to critics of a controversial quasi-governmental regulation that the legislation eliminated.
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