Article Provided courtesy of the Los Angeles Times
By Lauren Beale
Major eye-opener: When National Assn. of Realtors economist Lawrence Yun offered his opinion that there could be 10% home price appreciation nationally next year as we emerge from a three-year market bottom. He retracted that in the question-and-answer session. The official NAR prediction is in the 3% to 5% range.
Major disagreement: Another Yun prediction is a 70% to 80% growth in housing starts. David Crowe, the chief economist of the National Assn. of Home Builders, begged to differ. “Plants have been mothballed,” he said. “It will take a lot of time and money before we can come back.”