26 Quotes by Lawrence Yun

The strong rise in prices cut into affordability, even with the low rates.

The supply of homes is very tight for new and existing homes. We will continue to see healthy home-price appreciation. For non-home owners, that's bad news. But for home owners, that's building wealth.

Prices have doubled in some Florida markets over the past four or five years, so the 10 percent increase we're forecasting for the state this year might seem kind of small compared to recent trends.

Our experience says prices do not go down when there's job creation in the local economy. In local markets where they are flat on jobs, they could see prices decline. But we're projecting 2.3 million new jobs this year. The job market is providing a buffer. It's a counter force to rising rates.

A cut...won't affect the 30-year fixed mortgage rate at all. According to Freddie Mac, the 30-year fixed rate was 6.8 percent last week, and we think it'll stay about the same. But another interest rate cut could mean a slight drop in the short-term one-year adjustable rate mortgage (ARM).

A typical household in the past two years saw about a $20,000 gain in equity. That's not an insignificant chunk. Homeowners see that wealth and use it to buy additional goods.

You're seeing two separate markets. One is in the coastal regions where you're seeing a substantial decline in home sales. The second is in the middle part of the country, in the affordable regions, where the job market is more important than interest rates.

You need a strong job market with people in their 20s moving out of their parents' homes before rents recover.

Any time there's job creation, historically prices don't go down.