House prices: boom or bust?

Business Day - Home Front - - HOMEFRONT -

FORE­CAST Steve Mur­ray, a res­i­den­tial prop­erty spe­cial­ist with 33 years of ex­pe­ri­ence in the in­dus­try and edi­tor of Real Trends In­ter­na­tional, a trends re­search and pub­lish­ing firm based in Colorado, will be shar­ing some of his key prop­erty in­sights with lo­cal es­tate agents in Au­gust by ex­clu­sive in­vi­ta­tion from RE/MAX of South­ern Africa.

Mur­ray says that ev­ery­one who owns prop­erty or who wants to own prop­erty in the near fu­ture has one big ques­tion on their minds: Are house prices go­ing to boom or are they go­ing to bust?

Ac­cord­ing to a re­cent ar­ti­cle pub­lished on the Real Trends web­site, house prices are ex­pected to re­main steady over the five year cy­cle from 2010 to 2015. “While no one can fore­cast the in­dus­try’s fu­ture with any de­gree of cer­tainty, it is in­ter­est­ing to note that af­ter head­line news that home prices in the US dou­ble-dipped, most fore­cast­ers are pre­dict­ing a 2011 turn­ing point for the US hous­ing mar­ket, ac­cord­ing to the in­vest­ment and risk man­age­ment firm MacroMar­kets,” says Mur­ray. The New Jer­sey-based com­pany polled 108 econ­o­mists and real es­tate ex­perts from the likes of BBVARe­search, Ge­orge Ma­son Univer­sity, and Wells Fargo to gauge their pre­dic­tions. Nearly two-thirds of the pan­elists be­lieve the bot­tom for home prices ar­rived in the first quar­ter or will ar­rive some­time be­fore year-end. Peter

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