Some are questioning whether the current rally in the real estate market will fall victim to financial uncertainty regarding the impending debt ceiling debate and sequestration. However, many experts believe housing will be able to maintain its current momentum.
In a March 2013 report, Someone Say House Party?, analysts at Bank of America/ Merril Lynch concluded:
“We believe that the gain in home prices can persist despite subpar economic growth this year…Absent a significant weakening in the economy with negative payrolls, we think the housing recovery can continue. The combination of low inventory, high affordability and improving expectations for home prices provide powerful momentum for the housing sector.”
The National Association for Business Economics (NABE) was recently quoted inHousingWire as reporting:
“While gross domestic product is expected to be negatively impacted by all the uncertainty surrounding the nation’s impending debt ceiling debate and the risks of sequestration, the housing sector is expected to continue its upward trajectory.”
Housing has been a tailwind to the overall national economy for over a year. We agree with the experts in the belief that this will continue moving forward.
— Reposted with permission of Keeping Current Matters
About the Staten Island Board of REALTORS® (SIBOR)
The Staten Island Board of REALTORS® (SIBOR) is the largest not-for-profit trade association in Staten Island, N.Y.
SIBOR exists to enhance the ability and opportunity of its members to conduct their business successfully and ethically; and to promote the preservation of the public’s right to own, transfer and use real property.
Comprised of over 1,600 members, SIBOR serves real estate agents, brokers and affiliated professionals throughout the borough and surrounding areas.
SIBOR is the provider of the Staten Island Multiple Listing Service Inc. (SIMLS),which works as a clearinghouse through which more than 250 local real estate firms exchange information on properties they have listed for sale. Together, its members participate in over 3,000 real estate transactions every year.
All SIBOR members belong to the New York State Association of REALTORS® (NYSAR) and the National Association of REALTORS® (NAR).
SIBOR may be reached at 718-928-3220 and viewed online at http://siborrealtors.com. SIBOR may also be visited on Facebook at “Staten Island Board of Realtors,” on Twitter via @SIBOR, and on YouTube at the Staten Island Board of Realtors and RelevantPR channels.
Media Contact: Barton Horowitz
Relevant Public Relations, LLC
Headquarters: 718‑682‑1509
Mobile: 917‑715‑8761
Email: Bhorowitz@RelevantPR.com
