TheFrontPorchView.com

• Home
• Featured Properties
• Home Search
• Your Homes Value
• About Me
• Contact Me

January 5th, 2010Categories: Georgia Mountain Market reVIEWS, Georgia Mountain Real Estate VIEWS, Mortgage & Finance reVIEWS

2010 is just a few days old and already the “experts” are making predictions for the year.

Housing calls and mortgage rate predictions run the gamut:

• Home prices will fall in 2010
• Home prices will rise in 2010
• Mortgage rates will rise in 2010
• Mortgage rates will rise by a lot in 2010

Given how varied their outlooks, it’s clear that the professionals have no better view of the future than the amateurs. An expert can make an educated guess, but it’s a guess nonetheless.

Last year, Wall Streeters predicted a 25% pullback in home prices. 12 months later, we know prices didn’t fall.  Wall Street also predicted higher mortgage rates for 2009. That prediction was fulfilled.

There’s a lot of talk on CNBC and elsewhere about what’s coming in 2010. Before you take those predictions to the bank, just remember that analysts do a much better job interpreting data from the past than projecting it into the future.

The only thing that’s certain right now is that mortgage rates are historically low, the government is giving tax credits to qualified buyers, and there’s a lot of good “deals” in housing. Make the most of what’s out there today because it will take 12 months for us to look back and know which predictions were right and which were wrong.

Until then, predictions are just opinions and guesses.

Tags: Add new tag, Business, Financial Services, Government, Market Predictions, Mortgage, Real estate pricing, Tax Credit, United States, Wall Street

Written by Chad Lariscy//

Subscribe to Blog Contact Me Search for Homes Daily List Alert

This entry was posted on Tuesday, January 5th, 2010 at 8:46 am and is filed under Georgia Mountain Market reVIEWS, Georgia Mountain Real Estate VIEWS, Mortgage & Finance reVIEWS. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply

Name (required)

Email (will not be published) (required)

Website

Receive an email if someone else comments on this post?