David Lereah Quotes

You're going to be taking away from Middle America. Everyone, whether you use the mortgage interest deduction or not, the value goes down. You've just reduced the retirement nest egg for everyone. - David Lereah

You want to make sure homes are affordable; when they start to increase at lofty rates, you start to worry about affordability... But certainly, right now, the fundamentals are so good in housing that if we have a drop-off in price gains, it's still going to be at healthy levels. - David Lereah

You take all of these factors together and you've got a very healthy housing market. - David Lereah

With mortgage interest rates projected to rise slightly to around 7.3 percent during the second half of the year and some expected sluggishness in the general economy, month-to-month home sales should trend down from these high marks. However, we expect a total of 5.15 million existing-home sales in 2001, making this year the second highest on record. - David Lereah

With more buyers than sellers nationally, what we're seeing is a natural pressure on home prices as buyers compete to bid on available properties. Fortunately, the historically low cost of debt service on a home purchase means that we have a comfortable buffer in most of the country because the typical family can afford to buy a home well above the median price. - David Lereah

With a recent rise in interest rates, the housing affordability index can be expected to slide but remain very favorable. - David Lereah

With 30-year fixed mortgage interest rates a little under 7.0 percent, and expected to stay near this level for the balance of the year, we project existing-home sales to nearly match last year's performance. - David Lereah

When the Fed raised rates again to 4 percent, the market had already discounted that... But over the next month, the markets will start expecting the Fed to raise rates again to 4.25 percent and that's going to push rates again. - David Lereah

When mortgage interest rates first began to rise from record lows, it appears some buyers jumped into the market to take advantage of good affordability conditions before interest rates moved even higher. - David Lereah

What we're seeing now is a natural easing after a record pace of home sales in the third quarter. - David Lereah

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