Predictions: There is a shaky yet stronger outlook for real estate in 2011. The industry is still in shambles, considering the foreclosure crisis we are going through, the decline in home equity, and the drop in sales of foreclosed properties.
But while these are negative indicators, there are some bright spots in the industry. For one, the index of sales agreements for previously occupied homes rose 10 percent in October, signaling that there are some bullish signs in the market for existing homes.
Also, even though Federal Reserve Chairman Ben Bernanke estimates that we have four or five years until unemployment reaches pre-recession levels, that means that there will have to be some incline over the next few years. Even though this increase in employment levels may be small, it will still be a push in the positive direction.