Home Builders Association Discusses 2008

The Home Builders Association met yesterday and predicted that 2008 is going to be a tough real estate year and that we should see some recovery in 2009. The choice quote in Ryan Frank’s story on the front page of the print version of the Oregonian business section is, “my daughter’s Realtor is becoming a phlebotomist,” said economist John Mitchell.

I get a little squeamish having my own blood drawn so can’t imagine that I would enjoy drawing it from someone else! The National Association of Realtor expected 10% fewer Realtors in 2007. I wonder what they are figuring for 2008. They can count the four of us in.

6 Comments on “Home Builders Association Discusses 2008

  1. No offense, but thank god that there will be fewer real estate agents. Seemed like there were as many agents in the last five years than there were day traders in the 90s. The bar for getting one’s license is low for a reason.

  2. No offense taken. I’ve been saying from day one that the bar for getting (and keeping) a real estate license is too low.

  3. Actually, I thought the choice quote was this:

    “Speaking on housing prices, economist John Mitchell said: “There will be increasing affordability. That’s a polite way of saying price declines.”

  4. Income growth just went negative for the first time in many months. Given a negative savings rate and increasing equity depreciation, I expect both prices and affordability to decline.

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