【视】视频新闻：Jan 18th CNN News

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[B]2004CNNNews-------Jan 18th[/B]

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[B]The News words:[/B]

The top economists in the housing industry are predicting modest declines in home-sale and home-building this year, but still strong enough to be the second best year on record after last year’s record performance.

Housing has the best both worlds, argued the chief economist of the national association of Realtors David Lara. He’s saying an economy is gaining very strong and also with that low interest rates, so those (are) the two of the best world. Lara’s predicting that new home-sale will decline less than one percent. Home prices, he’s forecasting, will arise at a 4.6% great nationally, down from the eight percent rise in 2003. You heard no bubble’s puffing in 2003, Lara points out, maintains there no national
price bubbles now.

The chief economist of the Independent Community Bankers of the America also is forecasting a slowdown in home-price appreciation: a four and a one half to five percent next year.

The national association of homebuilders is predicting that housing will no longer be a key driver of economic growth, but rather have a neutral effect on GDP. The association’s top economist David Sandra is predicting drops of three to four percent in home sales and housing-stars for both single and multi-family homes.

Finally, F Max, the top economist says that 30-year mortgage rates will go no higher than six and one-quarter percent this year, and that compares to an average 5.98% right now, quote HSH associates.

So let’s keep in mind that whole economists do work for organizations that have a best interest in the strong housing market, but the economy does continue expanding with low inflation and low interest rates. Their forecast should be on the mark.

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