John Burns on 2011 Real Estate Market

By John Wake

Nice 2011 outlook interview with real estate economist (with a new home slant) John Burns from Lansner on Real Estate in Orange County.

I think prices along the coast will fall
The good news is that we will have solid job growth, which will bring back some demand to the market
My bet is… mortgage qualification will tighten
The right way to look at most neighborhood home values is to assume we will bottom at values that were achieved in 2003
We are concerned that the pool of renters who can come up with a down payment and qualify for a mortgage is very low
… the government is likely to raise down payment requirements while mortgage rates rise
… the government intervention is likely to end with rapidly rising mortgage rates, probably after 2011

Published on January 19, 2011