Just Real Estate Name says it all. Anything and everything to do with real estate.
"It appears that the economic recovery is here," Fannie Mae economists Doug Duncan and Orawin Velz said in a report summarizing their economic and mortgage forecasts, although they expect it will be weak compared to previous recoveries from deep recessions.
Real gross domestic product (GDP) grew at a 3.5 percent annualized pace in the third quarter, following five declines in the prior six quarters, they noted, but growth is likely to moderate in the final three months of the year before strengthening in late 2010.
Their housing forecast projects that housing starts will surge by 35 percent next year, from a recent historic low of 462,000 projected starts in 2009 to 624,000 next year.
Fannie Mae expects national home prices will stabilize next year, with the median resale home price remaining essentially unchanged at $170,800. That's a 0.2 percent decline from 2009 and a 22 percent decline from 2007
