On October 27th, I attended an economic forecast by Eugenio Aleman, Ph.D., Director, Senior Economist for Wells Fargo & Company which was hosted by Women’s Council 0f Realtors. Although his comments were not specific to Palos Verdes real estate, it was interesting to hear where he thinks the economy is headed. Later in the week, I will provide specific data for Palos Verdes homes. Here are some of Dr. Aleman’s comments:
– We are transitioning to a better real estate market. Dr. Aleman thinks the real estate market has bottomed.
– We have never experienced interest rates so low with affordibility so high.
– If you believe that inflation is coming, this is the best time to buy.
– Dr. Aleman thinks we will see higher inflation and that this is the best time to buy a home.
– Interest rates will remain low for the next one to one and a half years unless we experience high inflation.
– Taxes will be going up.
As a background, Dr. Aleman forecasts national, regional and international economic trends. His commentaries have appeared in national publications such as the Wall Street Journal, Los Angeles Times, San Francisco Chronicle, Washington Post, and USA Todayas well as many national and international media outlets including Associated Press, Reuters, and Bloomberg News.
