2018 house prices and rents will keep growing with no end in sight, economists say
Will home prices continue to go up in 2018?
According to a total of 10 economists’ forecast, it can be summed up in one word : YES!
Yes, home prices are projected to keep rising.
Yes, the supply of homes for sales is less than demand.
And yes, rent will continue to go up while apartment vacancies stay near all-time lows.
Therefore, most economists say this real estate market still has some legs, lasting a year or two more at least, if not five. The economists all cite the same reason: “As long as the economy keeps growing, that’s going to give a push to the housing market,” said Anil Puri, director of the Woods Center for Economic Analysis and Forecasting at Cal State Fullerton.
“It’s debatable whether we’re in a bubble,” said Chapman economist Doti. “(But) is it a bubble that’s about to burst? No.”
But there are some precautions you should take first, added Chapman economist Doti.
“If you like the house, if you could afford it, and would live there five years, yes. Otherwise, no,” he said. “In the long run, you’re fine. But if you have to sell (in the short term), you could be in trouble.”
Credit: By JEFF COLLINS | JeffCollins@scng.com | Orange County Register
By - Jan 17, 2018