John Mayer's Newsletter 7/1/2009 (archived)
 

Smaller, 'jewel-box' homes becoming a trend

Downsizing is the new watchword for construction as more buyers seek smaller quality-built homes with great features. Read more.

Mortgage rates tick up, above record lows

Freddie Mac says 30-year fixed mortgages averaged 5.42% this week; analysts fear higher rates threaten a housing recovery. Read more.

CURRENT NEWSLETTER

Visit my Website
www.jmayer.info

Pytha Realty Group, Merritt Island, Fl.

Call 321-799-8334 Cell 321-412-5402  EMAIL

Visit my Blog

Hello Everyone!

I hope my newsletter is informative and keeps you up to speed with current trends and markets. As always, I am at your service and welcome referrals from you, your friends and neighbors. Give me a call anytime.

Will ‘echo boomers’ save the housing market?

CAMBRIDGE, Mass. – June 25, 2009 – Echo boomers, the children of baby boomers, will be the salvation of the housing market, Harvard University’s Joint Center for Housing Studies predicts.

In its annual state of the nation’s housing study, the center says that the 75 million Americans born between 1979 and 1995 will mean plenty of demand for housing units.

"There will be 5 million more echo boomers than there were boomers when they first started swelling housing markets," says Eric Belsky, executive director of the Joint Center.

Belsky predicts that once the job market turns around, the housing market will recovery quickly because inventories are close in balance between supply and demand.

But the study warns that while echo boomers will increase demand significantly, they may not drive up prices much because their real incomes are lower than those earned by people a decade older when they entered the job market.

“While fundamentally we see what could be the foundation for long-term recovery, we still have to get through today’s challenges,” says Nicolas Retsinas, director of the Harvard center.

Sources: CNNMoney.com, Les Christie, and Reuters, Lynn Adler (06/22/2009)

Get the latest MLS listings that match your criteria

What's my home worth?

Fed says recession is easing

Policymakers declined to raise a key interest rate on June 24th, pledging to keep it low for an extended period. Read more.

I ride my bike every afternoon and check out the neighborhood and the waves. It's a great way to stay in shape, take some photos and meet a lot of nice people. I took this shot of a rocket launch from my bike.

  Delta 1V lifting off from Cape Canaveral 6/27/2009

Use the Real Estate Calculator

Current Newsletter