Lawrence Yun
Lawrence Yun
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Full Name and Common Aliases
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Lawrence Yun is a Korean-American economist and real estate expert who serves as the Chief Economist for NAR (National Association of Realtors). His expertise in residential housing market trends has made him a prominent figure in the industry.
Birth and Death Dates
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Lawrence Yun was born on January 16, 1953. Unfortunately, I do not have access to information about his passing.
Nationality and Profession(s)
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Nationality: Korean-American
Profession(s): Economist, Real Estate Expert, Chief Economist for NAR (National Association of Realtors)
Early Life and Background
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Lawrence Yun was born in South Korea. At the age of 15, he moved to the United States with his family, settling in Cleveland, Ohio. He graduated from Ohio State University with a degree in Economics. After completing his master's degree at the University of Maryland, he began his career as an economist.
Major Accomplishments
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Throughout his illustrious career, Lawrence Yun has made significant contributions to the real estate industry:
Prominent Economist: As Chief Economist for NAR, Yun is responsible for analyzing and forecasting residential housing market trends. His predictions often influence government policies and business decisions.
Author: He has written extensively on various topics related to the real estate sector. His books offer valuable insights into the ever-changing market dynamics.
Speaker: As a sought-after speaker, Yun shares his expertise at industry conferences and seminars.Notable Works or Actions
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Lawrence Yun is known for his unwavering dedication to providing accurate predictions on housing trends:
Home Price Predictions: He has been instrumental in forecasting home price growth. His research helps real estate professionals and investors make informed decisions.
Market Analysis: As a respected expert, Yun offers in-depth analysis of market conditions, providing insights into the factors that influence residential housing prices.Impact and Legacy
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Lawrence Yun's contributions to the real estate industry have been far-reaching:
Shaping Market Trends: His predictions often influence government policies and business decisions.
Real Estate Education: Through his books and public appearances, he has educated countless professionals about market trends and factors that shape residential housing prices.Why They Are Widely Quoted or Remembered
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Lawrence Yun is widely quoted and remembered due to his:
Expertise: His extensive experience as a real estate economist has earned him recognition within the industry.
* Predictive Accuracy: His forecasts often prove correct, making him a trusted voice in the market.
Quotes by Lawrence Yun
The housing market is shifting away from the record-breaking pace of last year to a more sustainable pace.
All housing market indicators are pointing to a move away from the frenzied record sales pace to, I would say, a more healthy rate of activity.
The market clearly has some legs left. Buyers who were sitting on the fence, hoping mortgage rates would decline, have decided to make the move now.
I feel comfortable with that, although 40 percent would be in the upper end of possibility. As for the lower end, getting double-digit appreciation will be an easy task for Seattle.
Home-buying is not a snap decision -- people mentally prepare for it and search for homes, and this is a three-to-four-month process. Plus, even with the rise in mortgage rates, they're still below last year's figure and still close to 45-year lows.
In the Midwest, where homes are very affordable and where home prices have risen much slower than the national average, sales are more dependent on job growth in the overall economy.
The larger declines were recorded in the high-priced markets that are more sensitive to mortgage rate changes.
You need a strong job market with people in their 20s moving out of their parents' homes before rents recover.