Dr. Mark Dotzour Discusses Texas Real Estate and 2010
Oct 28
On this week’s Red Zone Podcast (produced by Texas A&M’s RECON), Dr. Mark Dotzour discusses which way real estate is headed in 2010.
Dotzour predicts that “things are gonna be busy” for agents in 2010, as people will continue to look for “shelter” and places to raise their growing families. He sees that the two clouds most affecting real estate are the shaky job market (which he thinks will improve in the first few months of 2010) and the broken mortgage system (which he hopes will be resolved shortly).
Dotzour comments that “mortgage rates are at outrageously low levels right now,” which is like “a once in a lifetime gift.” Having been involved in real estate since 1969, he has never seen rates dip so low. When the Federal Reserve stops pumping money into the mortgage system, however, the rates will start creeping up again. Dotzour advises that for those comfortable in their jobs or considering retirement, now is an ideal time to house hunt.
Dr. Mark Dotzour is the Chief Economist and Director of Research at Texas A&M’s Real Estate Center. To hear more of his real estate advice, visit the RECON website and listen to this week’s Red Zone podcast.
