I like reading Lou Barnes’ weekly column. He’s a mortgage broker who seems to know a lot about the financial and real estate markets.
Over the past three months, or so, he’s become increasingly bearish on the economy. More so than I have been. So, I was faced with a dilemma – did I like this guy because I respected his opinion, or did I like this guy just because he had the same opinions as I did!
Probably more the second, right?
Well, I’m willing to continue to quote him, nonetheless, even though he’s more of a cynic than I … that’s what I’m here for, right? To give you knowledge and access to information?
What does Lou Barnes think now? Basically, that uncertainty rules. And we know how everyone hates that.
From his latest column:
The key to immediate Fed action is the job market, and it is holding. Hiring is slower, but new claims for unemployment insurance are steady — still no layoff pattern. Friday’s report of a 1.1 percent overall gain in September retail sales was triple the forecast, but quirk-laden. Chain-stores had their worst September in five years, and consumers are clearly backing away from optional spending.
He thinks we’ll need to wait a month or two for things to work themselves out. At least that’s my interpretation. Meaning, it’s an uncomfortable time to be in the markets, financial and real estate.
(Of course, if you’re buying in a hot local real estate market (or, warm, even), are putting 20% down, and have plans to stay put for at least 5 years, it probably doesn’t matter much.)
His forecast?
A lot of good historical and current data suggest that bottom in housing sales and prices is not far away — maybe a year. Recovery is a different matter. In the bubble zones, as in inventories worked off and appreciation restored…? Try a minimum of five years, in many – 10. Minimum.
More: Markets stall on housing questions – By Lou Barnes, Inman News
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Author Profile
- EXPERIENCE
Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs
In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.
HISTORY
For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.
AREAS COVERED
Back Bay
Beacon Hill
Charles River Park
Downtown/Midtown
North End
South End
Seaport District
South Boston
Waterfront
Brookline
Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.
John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114
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