This document provides a summary and analysis of the US economy and housing market by Jed Smith of the National Association of Realtors. It discusses how the economy gradually recovered from the Great Recession in a slower and weaker manner than past recessions. While home prices seem to be stabilizing and affordability is high, challenges remain around availability of credit, high unemployment, and consumer confidence. The outlook forecasts continued recovery, but notes many risks and uncertainties depend on government policies around jobs, spending, taxes, and housing programs.
This presentation discusses the changes over time to house prices in Ireland, both in the last twenty years and over the longer term. Ronan introduces the idea of “adaptive expectations” and the role this plays in the housing market i.e. that people look at what happened in the recent past and assume it will continue into the future. In terms of how we might value housing he discusses the ratio of rents to house prices.
This talk was part of 'The Irish Economy. What happened? What next?', a series of talks held at Dublin City Libraries during March 2012.
https://soundcloud.com/dublincitypubliclibrary/sets/the-irish-economy-what
Today we are on the threshold of a new coil of scientific-technical progress which will deduce industrial production automation on new level.
This coil became possible thanks to deployment of variety of innovative technologies which we unite under the name «Automation 2.0»
This presentation discusses the changes over time to house prices in Ireland, both in the last twenty years and over the longer term. Ronan introduces the idea of “adaptive expectations” and the role this plays in the housing market i.e. that people look at what happened in the recent past and assume it will continue into the future. In terms of how we might value housing he discusses the ratio of rents to house prices.
This talk was part of 'The Irish Economy. What happened? What next?', a series of talks held at Dublin City Libraries during March 2012.
https://soundcloud.com/dublincitypubliclibrary/sets/the-irish-economy-what
Today we are on the threshold of a new coil of scientific-technical progress which will deduce industrial production automation on new level.
This coil became possible thanks to deployment of variety of innovative technologies which we unite under the name «Automation 2.0»
Leslie Appleton Young, CAR Chief Economist, spoke at the Real Living Lifestyles New Year, New You Real Estate Symposium on January 31, 2012. She shared her economic forecast for the coming year, and all of the latest charts and stats on the California economy.
Leslie Appleton-Young, Chief Economist/California Association of Realtors presents his annual report to the California Desert Association of Realtors.
The Palm Springs desert area (Coachella Valley) housing market is on the upswing once again.
California Association of Realtors presentation by Oscar Wei, senior researcher at the CA Community College Real Estate Educators' Conference - Hilton, Oakland Airport. Friday, April 20, 2012
By Derek Byerlee. Presented at the ASTI-FARA conference Agricultural R&D: Investing in Africa's Future: Analyzing Trends, Challenges, and Opportunities - Accra, Ghana on December 5-7, 2011. http://www.asti.cgiar.org/2011conf
Recent Economic Developments in Latvia and Medium-term OutlookLatvijas Banka
This presentation summarises recent macroeconomic developments in Latvia and outlines a medium-term outlook for real GDP and inflation. Presentation reviews ongoing economic recovery, labour market issues and includes analyses on core factors behind the path of inflation. The main focus of the presentation is on the issue of competitiveness of the Latvian economy pointing to the costs adjustment process and productivity gains, as well as presenting export performance, market shares and current account developments. Presentation also features slides on monetary and financial market developments.
Do Or Die Innovation By Process Based Information ManagementDan Keldsen
Another "hyper-keynote" - although about half the the slides I've been using lately. 75 slides in 50 minutes, when done live. Presented multiple times, including the AIIM Conference in Boston on Tuesday, March 4th, at 2:30pm.
Leslie Appleton Young, CAR Chief Economist, spoke at the Real Living Lifestyles New Year, New You Real Estate Symposium on January 31, 2012. She shared her economic forecast for the coming year, and all of the latest charts and stats on the California economy.
Leslie Appleton-Young, Chief Economist/California Association of Realtors presents his annual report to the California Desert Association of Realtors.
The Palm Springs desert area (Coachella Valley) housing market is on the upswing once again.
California Association of Realtors presentation by Oscar Wei, senior researcher at the CA Community College Real Estate Educators' Conference - Hilton, Oakland Airport. Friday, April 20, 2012
By Derek Byerlee. Presented at the ASTI-FARA conference Agricultural R&D: Investing in Africa's Future: Analyzing Trends, Challenges, and Opportunities - Accra, Ghana on December 5-7, 2011. http://www.asti.cgiar.org/2011conf
Recent Economic Developments in Latvia and Medium-term OutlookLatvijas Banka
This presentation summarises recent macroeconomic developments in Latvia and outlines a medium-term outlook for real GDP and inflation. Presentation reviews ongoing economic recovery, labour market issues and includes analyses on core factors behind the path of inflation. The main focus of the presentation is on the issue of competitiveness of the Latvian economy pointing to the costs adjustment process and productivity gains, as well as presenting export performance, market shares and current account developments. Presentation also features slides on monetary and financial market developments.
Do Or Die Innovation By Process Based Information ManagementDan Keldsen
Another "hyper-keynote" - although about half the the slides I've been using lately. 75 slides in 50 minutes, when done live. Presented multiple times, including the AIIM Conference in Boston on Tuesday, March 4th, at 2:30pm.
Learn. Live. Lead. Life-long Learning and Real Estate Success.Nar Res
There is a significant relationship between Realtors®’ educational attainment and their income level, according to panelists at today’s “Learn. Live. Lead. Lifelong Learning and Real Estate Success” forum during the 2013 REALTORS® Conference and Expo.
2013 Profile of International Buyers: SummaryNar Res
A summary of the 2013 Profile of International Home Buying Activity in PowerPoint form. This was presented to the Massachusetts Association of REALTORS® by Jed Smith in August 2013.
Jed Smith, Managing Director, Quantitative Research
NATIONAL ASSOCIATION OF REALTORS®
North Carolina Real Estate Summit
Cary, North Carolina
July 16, 2013
Economic and Housing Market Trends and OutlookNar Res
Jed Smith, Managing Director, Quantitative Research
NATIONAL ASSOCIATION OF REALTORS®
North Carolina Real Estate Summit
Cary, North Carolina
July 16, 2013
Challenges & Opportunities in Housing and Homeownership Nar Res
Moderator: NAR Chief Economist Lawrence Yun
Panelists:
James Shilling, PhD, Institute for Housing Studies, DePaul University
Lisa Sturtevant, PhD, Center for Regional Analysis, George Mason University
Margaret McFarland, JD, Colvin Institute of Real Estate Development University of Maryland
Lucy Gorham, PhD, Center for Community Capital, University of North Carolina
GraphSummit Singapore | The Art of the Possible with Graph - Q2 2024Neo4j
Neha Bajwa, Vice President of Product Marketing, Neo4j
Join us as we explore breakthrough innovations enabled by interconnected data and AI. Discover firsthand how organizations use relationships in data to uncover contextual insights and solve our most pressing challenges – from optimizing supply chains, detecting fraud, and improving customer experiences to accelerating drug discoveries.
Climate Impact of Software Testing at Nordic Testing DaysKari Kakkonen
My slides at Nordic Testing Days 6.6.2024
Climate impact / sustainability of software testing discussed on the talk. ICT and testing must carry their part of global responsibility to help with the climat warming. We can minimize the carbon footprint but we can also have a carbon handprint, a positive impact on the climate. Quality characteristics can be added with sustainability, and then measured continuously. Test environments can be used less, and in smaller scale and on demand. Test techniques can be used in optimizing or minimizing number of tests. Test automation can be used to speed up testing.
Epistemic Interaction - tuning interfaces to provide information for AI supportAlan Dix
Paper presented at SYNERGY workshop at AVI 2024, Genoa, Italy. 3rd June 2024
https://alandix.com/academic/papers/synergy2024-epistemic/
As machine learning integrates deeper into human-computer interactions, the concept of epistemic interaction emerges, aiming to refine these interactions to enhance system adaptability. This approach encourages minor, intentional adjustments in user behaviour to enrich the data available for system learning. This paper introduces epistemic interaction within the context of human-system communication, illustrating how deliberate interaction design can improve system understanding and adaptation. Through concrete examples, we demonstrate the potential of epistemic interaction to significantly advance human-computer interaction by leveraging intuitive human communication strategies to inform system design and functionality, offering a novel pathway for enriching user-system engagements.
Pushing the limits of ePRTC: 100ns holdover for 100 daysAdtran
At WSTS 2024, Alon Stern explored the topic of parametric holdover and explained how recent research findings can be implemented in real-world PNT networks to achieve 100 nanoseconds of accuracy for up to 100 days.
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
GraphSummit Singapore | The Future of Agility: Supercharging Digital Transfor...Neo4j
Leonard Jayamohan, Partner & Generative AI Lead, Deloitte
This keynote will reveal how Deloitte leverages Neo4j’s graph power for groundbreaking digital twin solutions, achieving a staggering 100x performance boost. Discover the essential role knowledge graphs play in successful generative AI implementations. Plus, get an exclusive look at an innovative Neo4j + Generative AI solution Deloitte is developing in-house.
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
- For beginners: discover PowSyBl's functionalities through a quick general presentation and the notebook, without needing any expert coding skills;
- For advanced developers: master the skills to efficiently apply PowSyBl functionalities to your real-world scenarios.
Unlocking Productivity: Leveraging the Potential of Copilot in Microsoft 365, a presentation by Christoforos Vlachos, Senior Solutions Manager – Modern Workplace, Uni Systems
Maruthi Prithivirajan, Head of ASEAN & IN Solution Architecture, Neo4j
Get an inside look at the latest Neo4j innovations that enable relationship-driven intelligence at scale. Learn more about the newest cloud integrations and product enhancements that make Neo4j an essential choice for developers building apps with interconnected data and generative AI.
In the rapidly evolving landscape of technologies, XML continues to play a vital role in structuring, storing, and transporting data across diverse systems. The recent advancements in artificial intelligence (AI) present new methodologies for enhancing XML development workflows, introducing efficiency, automation, and intelligent capabilities. This presentation will outline the scope and perspective of utilizing AI in XML development. The potential benefits and the possible pitfalls will be highlighted, providing a balanced view of the subject.
We will explore the capabilities of AI in understanding XML markup languages and autonomously creating structured XML content. Additionally, we will examine the capacity of AI to enrich plain text with appropriate XML markup. Practical examples and methodological guidelines will be provided to elucidate how AI can be effectively prompted to interpret and generate accurate XML markup.
Further emphasis will be placed on the role of AI in developing XSLT, or schemas such as XSD and Schematron. We will address the techniques and strategies adopted to create prompts for generating code, explaining code, or refactoring the code, and the results achieved.
The discussion will extend to how AI can be used to transform XML content. In particular, the focus will be on the use of AI XPath extension functions in XSLT, Schematron, Schematron Quick Fixes, or for XML content refactoring.
The presentation aims to deliver a comprehensive overview of AI usage in XML development, providing attendees with the necessary knowledge to make informed decisions. Whether you’re at the early stages of adopting AI or considering integrating it in advanced XML development, this presentation will cover all levels of expertise.
By highlighting the potential advantages and challenges of integrating AI with XML development tools and languages, the presentation seeks to inspire thoughtful conversation around the future of XML development. We’ll not only delve into the technical aspects of AI-powered XML development but also discuss practical implications and possible future directions.
zkStudyClub - Reef: Fast Succinct Non-Interactive Zero-Knowledge Regex ProofsAlex Pruden
This paper presents Reef, a system for generating publicly verifiable succinct non-interactive zero-knowledge proofs that a committed document matches or does not match a regular expression. We describe applications such as proving the strength of passwords, the provenance of email despite redactions, the validity of oblivious DNS queries, and the existence of mutations in DNA. Reef supports the Perl Compatible Regular Expression syntax, including wildcards, alternation, ranges, capture groups, Kleene star, negations, and lookarounds. Reef introduces a new type of automata, Skipping Alternating Finite Automata (SAFA), that skips irrelevant parts of a document when producing proofs without undermining soundness, and instantiates SAFA with a lookup argument. Our experimental evaluation confirms that Reef can generate proofs for documents with 32M characters; the proofs are small and cheap to verify (under a second).
Paper: https://eprint.iacr.org/2023/1886
Securing your Kubernetes cluster_ a step-by-step guide to success !KatiaHIMEUR1
Today, after several years of existence, an extremely active community and an ultra-dynamic ecosystem, Kubernetes has established itself as the de facto standard in container orchestration. Thanks to a wide range of managed services, it has never been so easy to set up a ready-to-use Kubernetes cluster.
However, this ease of use means that the subject of security in Kubernetes is often left for later, or even neglected. This exposes companies to significant risks.
In this talk, I'll show you step-by-step how to secure your Kubernetes cluster for greater peace of mind and reliability.
GridMate - End to end testing is a critical piece to ensure quality and avoid...ThomasParaiso2
End to end testing is a critical piece to ensure quality and avoid regressions. In this session, we share our journey building an E2E testing pipeline for GridMate components (LWC and Aura) using Cypress, JSForce, FakerJS…
In his public lecture, Christian Timmerer provides insights into the fascinating history of video streaming, starting from its humble beginnings before YouTube to the groundbreaking technologies that now dominate platforms like Netflix and ORF ON. Timmerer also presents provocative contributions of his own that have significantly influenced the industry. He concludes by looking at future challenges and invites the audience to join in a discussion.
UiPath Test Automation using UiPath Test Suite series, part 6DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 6. In this session, we will cover Test Automation with generative AI and Open AI.
UiPath Test Automation with generative AI and Open AI webinar offers an in-depth exploration of leveraging cutting-edge technologies for test automation within the UiPath platform. Attendees will delve into the integration of generative AI, a test automation solution, with Open AI advanced natural language processing capabilities.
Throughout the session, participants will discover how this synergy empowers testers to automate repetitive tasks, enhance testing accuracy, and expedite the software testing life cycle. Topics covered include the seamless integration process, practical use cases, and the benefits of harnessing AI-driven automation for UiPath testing initiatives. By attending this webinar, testers, and automation professionals can gain valuable insights into harnessing the power of AI to optimize their test automation workflows within the UiPath ecosystem, ultimately driving efficiency and quality in software development processes.
What will you get from this session?
1. Insights into integrating generative AI.
2. Understanding how this integration enhances test automation within the UiPath platform
3. Practical demonstrations
4. Exploration of real-world use cases illustrating the benefits of AI-driven test automation for UiPath
Topics covered:
What is generative AI
Test Automation with generative AI and Open AI.
UiPath integration with generative AI
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
Alt. GDG Cloud Southlake #33: Boule & Rebala: Effective AppSec in SDLC using ...James Anderson
Effective Application Security in Software Delivery lifecycle using Deployment Firewall and DBOM
The modern software delivery process (or the CI/CD process) includes many tools, distributed teams, open-source code, and cloud platforms. Constant focus on speed to release software to market, along with the traditional slow and manual security checks has caused gaps in continuous security as an important piece in the software supply chain. Today organizations feel more susceptible to external and internal cyber threats due to the vast attack surface in their applications supply chain and the lack of end-to-end governance and risk management.
The software team must secure its software delivery process to avoid vulnerability and security breaches. This needs to be achieved with existing tool chains and without extensive rework of the delivery processes. This talk will present strategies and techniques for providing visibility into the true risk of the existing vulnerabilities, preventing the introduction of security issues in the software, resolving vulnerabilities in production environments quickly, and capturing the deployment bill of materials (DBOM).
Speakers:
Bob Boule
Robert Boule is a technology enthusiast with PASSION for technology and making things work along with a knack for helping others understand how things work. He comes with around 20 years of solution engineering experience in application security, software continuous delivery, and SaaS platforms. He is known for his dynamic presentations in CI/CD and application security integrated in software delivery lifecycle.
Gopinath Rebala
Gopinath Rebala is the CTO of OpsMx, where he has overall responsibility for the machine learning and data processing architectures for Secure Software Delivery. Gopi also has a strong connection with our customers, leading design and architecture for strategic implementations. Gopi is a frequent speaker and well-known leader in continuous delivery and integrating security into software delivery.
Alt. GDG Cloud Southlake #33: Boule & Rebala: Effective AppSec in SDLC using ...
Fhlb presentation
1. The Economy… Real Estate Outlook and Risks
Federal Home Loan Bank of Chicago
MPF Advisory Council Meeting
Presentation, April 18, 2012
Four Seasons Hotel
120 East Delaware Place
Chicago, Illinois
Jed Smith
Managing Director, Quantitative Research
National Association of Realtors®
2. The Economy: Where and Why?
Looking At NAR’s Economic and Housing Outlook
• Forecasting: Some Comments.
• The Economic Outlook.
• How Do We Reach Our Conclusions?
• Forecast Risks and Uncertainties.
• How Likely Are We Correct! WHY?
3. Forecasting: Some Comments
• Projections: Based on
Economic
Relationships, Best
Available Data.
• Assumptions.
• Uncertainties.
• Risk Analysis.
• Black Swans! Unknown
Unknowns.
10. HOW DO WE REACH OUR CONCLUSIONS?
Problems in a Variety of Sectors: Look at the Drivers.
11. 20
00
20 - J
0 a
125000
135000
145000
20 0 - n
01 Ju
20 - J l
0 a
20 1 - n
02 Ju
20 - J l
0 a
20 2 - n
03 Ju
20 - J l
0 a
20 3 - n
04 Ju
The Economy:
20 - J l
0 a
20 4 - n
05 Ju
20 - J l
0 a
20 5 - n
06 Ju
20 - J l
0 a
20 6 - n
07 Ju
20 - J l
0 a
20 7 - n
08 Ju
l
20 - Ja
n
20 08-
09 Ju
- l
20 -Ja
0 n
Recession is Over. Where are the Jobs?
Projected Time for Jobs Recovery: Four Years?
20 9-J
10 ul
20 -Ja
1 n
20 0-J
11 ul
20 -Ja
1 n
20 1-J
12 ul
-J
Total Jobs: Non-Farm, Establishment Data
an
Source: BLS
12. Home Inventories: Approaching 6 Months
The Shadow: Potentially 5 Million Homes
Some Areas Experiencing Low Inventories—Could Sell More
13. Household Wealth: Impact of Great Recession
Lost Approximately $14 Trillion in Assets
Financial Assets: Recovering. Real Estate: Recovery Still to Come.
Households & Nonprofit Org: Total Financial Assets Households & Nonprofit Org: Assets: Total Owner-occupied Real Estate
NSA, Bil.$ NSA,Bil.$
60000 60000 24000 24000
50000 50000 20000 20000
40000 40000 16000 16000
30000 30000 12000 12000
20000 20000 8000 8000
10000 10000 4000 4000
0 0 0 0
80 85 90 95 00 05 10 80 85 90 95 00 05 10
Source: Federal Reserve Board 01/13/12 Source: Federal Reserve Board 02/08/12
14. Unemployment
Need an Additional 11 Million Jobs
Number Unemployed: Unprecedented. Time to find a job: Unprecedented.
Unemployed, 16 Years & Over: 16 yr + Average {Mean} Duration of Unemployment
SA, Thous SA, Weeks
16000 16000 45.0 45.0
14000 14000 37.5 37.5
12000 12000
30.0 30.0
10000 10000
22.5 22.5
8000 8000
15.0 15.0
6000 6000
4000 4000 7.5 7.5
80 85 90 95 00 05 10 80 85 90 95 00 05 10
Source: Bureau of Labor Statistics 02/08/12 Source: Bureau of Labor Statistics 02/08/12
15. Distressed Sales: 30% to 40% of Transactions
Major Impact--Price and Consumer Confidence
16. Percent of Homes Underwater by State
Source: Fannie Mae/Core Logic
17. Mortgages Past Due
Shadow Inventory Includes Foreclosures, Short Sales, and Some Percentage of Past Due
18. FORECAST RISKS AND UNCERTAINTIES
Does An Economist EVER Reach A Conclusion?
A Comment from Harry Truman
19. The Good
• Home Prices: Seem to be Stabilizing.
Emotional, psychological, confidence issues. Price to
Income Ratios favorable.
• Affordability: Very High.
• Interest Rates: Low IF you can get the mortgage.
• Stress Tests.
• Pent Up Demand: Possibly 500,000 or more per year.
• Demographics: Millennial Generation is large;
favorable attitudes towards housing; delayed
household formation.
20. Residential Markets: The Outlook
Indications that Recovery is Underway
• A Recovery is Underway—Short Term Issues.
– Highly Dependent on Economic Policy.
– Many Uncertainties, Black Swans, and Potential
Surprises.
– Confidence, Attitudes.
• A Recovery is Underway—Longer Term.
– Significant Division of Opinions Concerning
Entitlements, Spending, and the American Dream.
– Competitive Position, Economic Trends.
21. Residential Markets Showing Modest Signs of Recovery
REALTOR Confidence in Market Outlook
60.0
50.0
40.0
30.0
20.0
10.0
0.0
Apr08
Jul08
Apr09
Jul09
Apr10
Jul10
Apr11
Jul11
Jan08
Jan09
Jan10
Jan11
Jan12
Oct08
Oct09
Oct10
Oct11
Single Family Townhouses Condos
24. The Bad
Credit Availability and Financial Issues, Consumer Confidence, Jobs Situation
FICO and Mortgages: Unrealistic Some Major Issues
• Jobs: Lack of demand or
technological change? How
long and how much?
• Wages: Intense pressure for a
lot of people.
• Downsizing the Dream:
Car, House, Job, Life.
• Financial Issues: Stress
Tests, Liquidity, Portfolio
Problems, Liquidity Issues.
25. Consumer Confidence
Continues at Mediocre Level
Conference Board: Consumer Confidence
SA, 1985=100
150
125
100
75
50
25
85 90 95 00 05 10
Source: The Conference Board 03/30/12
26. Government Spending and Tax Receipts
Major Area of Controversy!!!
$ billion
4200
Government Outlays
3700
3200
2700
2200
1700 Government Receipts
1200
700
200
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
27. Problems of Major Concern!
“DUDE--Where’s My Raise, My Job?”
Major Jobs Problems
Median Usual Wkly Earnings: Full Time Wage & Salary Wkrs
SA, 1982-84 CPI-U Adj$
Full Time Wage and Salary Workers
SA, Thous
345.0 112500
337.5
105000
97500
330.0
90000
322.5
82500
315.0
75000
307.5 67500
80 85 90 95 00 05 10
Source: Bureau of Labor Statistics 02/07/12
28. The Ugly: Uncertainties and the Outlook
• Longer Term Issues and Problems--Affecting Jobs.
– Competitive Position
– Tax and Incentive Structures
– Possible Structural Problem.
– U.S. International Competitiveness.
• Short Term Issues and Problems.
– Recovering from Great Recession
– Government Spending and Taxing.
– Deficits.
– International Financial and Governmental Actions and Policies.
• People Issues.
– Consumer Moods: Confidence, Personal Wealth, Lingering Effects of Recession.
– Basic Disagreements: The American Future, Who Pays Taxes, Role of Government.
• Economic Uncertainties
– Foreclosures, Short Sales, Upside Down Homeowners, Down Payments, Credit
Availability, Mortgage Interest Deductions, GSE Reform, Proposed Regulations, European
Credit Markets, Oil Prices, Risk Aversion.
29. Washington Policy Impacts
Opinions, Uncertainties, and Ill Will
• Housing Proposals.
– Raise down payment to 20%: Currently approximately 2/3 of buyers obtaining a mortgage
put down less than 20 percent.
– Mortgage Interest Deduction: high income/second homes?
– Conforming Loan Limits.
– Refinancing/Upside Down/Distressed.
• Government Sponsored Enterprises.
– Issues for resolution.
– Mortgages: Fannie and Freddie model was flawed (private profit/taxpayer loss).
• Washington Now Focused on Jobs and Economy.
– Potential for many bad outcomes!
– Creating a Job Climate vs. Creating Jobs.
– Concern over economic circumstances.
– Oil Prices, International economic developments—may have major impact.
– Taxes, Benefits, Spending, Mortgages, and Uncertainties.
– Who Pays Income Taxes?
– Who Receives Entitlements?
– Higher Taxes vs. Decreased Spending vs. What?
– Concern Over Deductions.
33. How Likely Are We To Be Correct?
There Are Major Risks
• A Recovery is Underway—Short Term Issues.
– Highly Dependent on Economic Policy.
– Many Uncertainties, Black Swans, and Potential
Surprises.
– Confidence, Financial Issues, Attitudes.
• Short Term—Favorable Outlook.
– Residential Prices Probably At or Near Bottom.
– A substantial market appears to be headed up.
– Homeownership Still the American Dream.
– Affordability and Prudence
– Current Market Developments at www.Realtors.org
34. How Likely Are We To Be Correct?
There Are Major Risks
• A Recovery is Underway—Longer Term.
– Significant Division of Opinions Concerning
Entitlements, Spending, and the American Dream.
– Competitive Position, Economic Trends.
• Risks: Short Term and Longer Term.
– Some major issues with major risks—unresolved.
– Political Risks, Expectations, Foreign Economies, Financial
Sectors.
• My “ONE ARM” Assessment
– We are in recovery and should see expansion for the next
several years.
35. NAR: A Source for Housing Information
www.realtor.org
For More Information
• Profile of Home Buyers and Sellers
– National Survey
• Statistics: http://www.realtor.org/
• Information Sources
– Facebook: http://www.facebook.com/narresearchgroup
– Twitter: http://twitter.com/#!/NAR_Research
National Association of Realtors:
– http://www.realtor.org/research/index.html
• Economists Outlook
• http://economistsoutlook.blogs.realtor.org/
• Metro Analysis:
– http://www.realtor.org/research.nsf/pages/MetroHomePriceAnalysisReports