Bubble Talk Can't Drown Out "Media Effect"
A MSN Money article reveals that even the insiders know people are getting rushed into the housing market, out of fear and greed. "'There is certainly a media effect that is keeping demand for housing high,' said Bob Moulton, 'a real estate broker in Manhasset, New York. 'People who think they are missing out on something want to get in on real estate even more right now.'"
"'Even with the Federal Reserve in a tightening cycle, consumers aren't deterred, housing remains very strong,' said Bob Walters, chief economist at Quicken Loans. 'For home buyers and those considering refinancing, defense is the name of the game right now. Mortgage rates are expected to rise, so acting now and locking in a low rate is an advisable strategy.'"
Did you ever notice these organizations have in-house economists who just happen to predict exactly what is best for their employer?