David Berson
David Berson
David M. Berson is Professor of Medical Science at Brown University. He helped lead the way in the discovery of a third class of mammalian photoreceptors by providing the first electrophysiological recordings from intrinsically photosensitive retinal ganglion cells...
fallen levels parts seen
In some parts of the country, affordability has fallen to levels we have not seen in 20 years.
condo market possible
It's possible the condo market could see a very big drop.
buy california chance clearly fall good housing negative next past people point possible prices
At some point in the future, California probably will have another big housing recession. It is possible at that point that prices will fall meaningfully, as in the past they have done. That is clearly a negative for people who own homes. But for those who don't own homes, that will .Ê.Ê. give them a pretty good chance to buy in the next up-cycle.
benefit call consumer easy loan work
In some cases, they probably have. Yet in another situation, the consumer will use the same loan to really benefit their situation. It's never an easy call as to what is going to work and what is not.
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I was surprised that the sales numbers went up, even with the good weather. It doesn't change our view that the general trend in housing activity is downward.
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Fortunately, continued job and income growth and the overall economy growth will help to offset the fall in housing activity that otherwise would occur.
activity focus homes housing investors mortgage obviously overall purchased track understand
We obviously track the mortgage activity and understand that overall share, but we don't focus on how many homes are being purchased by investors without a mortgage. That could be a more interesting part of the housing picture.
fourth higher home investor investors last looked period sales share starting step
We can't find a period when the investor share of home sales has been higher than in the last year. In the fourth quarter, it looked like investors were starting to step back.
activity drop expect housing percent primarily slowing year
We expect housing activity to drop about 8 percent this year -- it's primarily because of the investors' slowing purchases.
data problem
We don't have enough data to know how big a problem this will be.