When Leigh Gallagher, assistant managing editor at Fortune magazine, asked two economists at Global Connect to recap the housing market, she got very different answers — perhaps unsurprisingly. Allan Weiss, founder of Weiss Analytics, compared the housing economy to “90 million individual molecules, like the wind, and it’s a whirlwind. “It used to all be blowing in one direction, but there are many different strands and it’s impossible to generalize. It’s moving in multiple directions,” he said.
- The West Coast is generally stronger than the East Coast, and urban areas are generally stronger than suburban. Within those generalities, there are exceptions.
- Overvaluation and oil prices are things to watch.
- Millennials are delaying their homebuying activity, but they are such a large group that this tailwind could be significant.