SOME QUICK QUOTES AND SOME STRONG NEWS! – – – By TheLangrocks.com – – – A 10-Year Housing Surge on the Horizon? – GDP Up 3.7% Q2

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A 10-Year Housing Surge on the Horizon?

National Association of Realtors: “The housing market is poised for one of its largest expansions in history. By 2024, demographic and economic changes are forecasted to bring 15.9 million additional households on board, according to a new study released by the Mortgage Bankers Association.”
“Average of 1.6 million additional households per year”
“Household growth is also expected to be driven by 5.5 million additional Hispanic households. For other races, 3.4 million additional non-Hispanic White households are expected to form by 2024, 2.4 million additional black households.” RealtorMag NAR 8/25/15

The Census Bureau projects the following breakdown in ages emerging in 2024, as compared to 2014:
• 1.8 million more Asian households, and 730,000 additional other households.
• 20 million more people age 60 and over than there are today (as Baby Boomers age
• 18 million more people age 18 to 44 (as smaller Generation X cohorts are replaced by larger Millennial cohorts)
• 4 million fewer people age 45 to 59 (as the large Baby Boomer cohorts are replaced by smaller Generation X cohorts) RealtorMag NAR 8/25/15

Trulia Chief Economist Selma Hepp, “The GDP release today is very positive but most importantly because all components of the GDP showed strong improvement,” “Also, the growth in all components suggest that we may be looking at a strong third quarter as well.”

Realtor.com chief economist Jonathan Smoke, “While momentum remains strong, we are entering a slower time of year for demand,” Smoke said. “However, the recent stock market correction has produced a gift to the housing market in the form of lower mortgage rates and a window of time before rates move up again.” Daily Real Estate News 8/27/15 Freddie Mac & RealtorMag NAR, DSNews 8/58/15 Brian Honea

Freddie Mac Average U.S. rate on 30-year mortgage drops to 3.84% – lowest level since May

Quick and good news facts from TheLangrocks.com