First American Chief Economist Mark Fleming was interviewed on FOXBusiness and CNBC on Tuesday and discussed the outlook for the housing market and broader economy as well as the impact of tax law changes on housing.
On housing market outlook:
“The consensus estimate for housing is up. Part of that is because the economy is strong and, most specifically within the economy, because wages are growing, which means more household income. You get the rate benefit, which is amazing in terms of purchasing power for housing, and so we see a lot of demand out there because rates are low and incomes are up.”
On the impact of tax law changes on housing:
“We’ve tried to find evidence in the data and its very, very hard to find any systemic evidence in the data of big effects. Even when you drill down into these very, very small micro-markets, we just don’t see a lot of it.”
Watch the May 21 CNBC clip