Last year I wrote one of those “wonderful” annual prognostication posts with my guesses on what we would be looking at during the same time next year… and that would be now.
Image by dougtone via Flickr
Here is a link to the old post. I’ll have the quick version below, but if you want to see the context, knock yourself out…
- I predict that next year there will STILL be people talking about the coming giant wave of Shadow Inventory. Well, I have to say that I hit that one. Inventories are dropping, but the general buzz in the biz is that there is a huge wave of “Shadow Inventory” just around the bend. Of course, it has been there (just around the corner) for a few years now…
- Interest Rates ARE going to rise. They did… a little… but they are down. I was wrong.
- … there will be another wave of government intervention… I hoped I would be wrong on this one, and I was.
- The entry level market (under $200k) is well on the way to recovery… and that will continue. I hit that one right. The entry level market is pretty much rocking in Gwinnett County.
- And I don’t think we will see a meaningful recovery in prices for the Luxury Market (above $600k). Talk about a hurting market segment… Unfortunately, I hit that one on the head.
- The “Near Luxury” segment (from $200k-$600k) will be mixed. That one is pretty close. There are some markets that we are seeing a meaningful recovery for this price level… and other, not so much. A few are just waffling.
- I don’t see Unemployment going under 9% during 2011. How do I rate this one? Officially, I am wrong. However, most of the improvement hasn’t been from job creation, but rather from people giving up. The December numbers are supposed to be released later today…
I went 4 for 7… maybe 5 for 7, depending on how you want to score the last one.
Related articles
- Wayback Wednesday… How ’bout Those Housing Starts (lanebailey.com)
- Wayback Wednesday… Median Home Prices (lanebailey.com)
- Wayback Wednesday… From the Meltdown. (lanebailey.com)
Don’t hesitate to shoot Lane a message if you have any questions, or need any help. And check out the new links for FREE Property Searching, FREE Comparative Market Analysis and FREE Market Reports. They are near the top of the page…
