Job growth to steer real estate demand

Perspective: Overpriced markets expected to prosper

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As we prepare for 2005, we find a housing market that is no longer a national boom, but instead a mix of regional booms, slowdowns and mostly “status quos.” Nationally, the outlook is for slowly rising mortgage rates and slowly improving job growth. If both occur, the change in housing construction levels should be minimal in 2005. The Likely Scenario is for the U.S.