baltimoresun.com

« Brainstorming housing-market solutions | Main | It's a great time to buy, say the folks who are selling »

November 8, 2007

Economists to home builders: no bottom yet

Some quick notes about the Home Builders Association of Maryland's annual forecast conference, held today:

A record number of people showed up -- 360, almost twice as many as last year, which gives you an idea of the level of anxiety about the market. (The conference was first held in 1996.)

National and local economists, offering their predictions about when the housing market will stop getting worse from a sellers' perspective, didn't agree on when but all said that it won't be soon.

The National Association of Home Builders' director of forecasting said the bottom would come in the middle of next year. Freddie Mac's chief economist expects it around the end of next year. Baltimore economist Anirban Basu said not until 2009, possibly the middle of that year.

You all know the reasons: lending problems, rising foreclosures, unaffordably high prices, high levels of unsold homes -- and don't forget nervous buyers. (Also, bad press, some of the builders argued.)

More about the conference once I'm done writing the story about it for tomorrow's paper.

EDIT: I was given incorrect information -- this was the 10th annual conference, not the 12th.

Posted by Jamie Smith Hopkins at 3:22 PM | | Comments (0)
        

Post a comment

All comments must be approved by the blog author. Name-calling aimed at other commenters is not welcome here. Please do not resubmit comments if they do not immediately appear. You are not required to use your full name when posting, but you should use a real e-mail address. Comments may be republished in print, but we will not publish your e-mail address. Our full Terms of Service are available here.

Verification (needed to reduce spam):

About Jamie Smith Hopkins
Jamie Smith Hopkins, a Baltimore Sun reporter since 1999, writes about the regional economy. Her reporting on the housing market has won national and local awards. Hopkins is a Columbia native and has lived in Maryland all her life, save for 10 months spent covering schools in Ames, Iowa.
She trained to become a wonk by spending large chunks of time as a geek and an insufferable know-it-all.
Baltimore Sun articles by Jamie
-- ADVERTISEMENT --

Most Recent Comments
Baltimore Sun coverage
Baltimore Sun Real Estate section
Archive: Dream Home
Dream Home takes readers into the houses of area residents who have found their ideal home.
Sign up for FREE business alerts
Get free Sun alerts sent to your mobile phone.*
Get free Baltimore Sun mobile alerts
Sign up for Business text alerts

Returning user? Update preferences.
Sign up for more Sun text alerts
*Standard message and data rates apply. Click here for Frequently Asked Questions.
  • Sign up for the At Home newsletter
The home and garden newsletter includes design tips and trends, gardening coverage, ideas for DIY projects and more.
See a sample | Sign up

Charm City Current
Categories
Stay connected