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Economists Lawrence you and thanks for being with that sat Lawrence.
And look you know looking at that data the last couple months housing prices up starts are -- pending home sales are up is it fair to say.
That in 2012 the housing market finally came alive.
I absolutely and -- more things that are going down are inventories.
Number -- -- closures are going down days on the market.
So things that need to call this going up thinks they need to go down is going down everything is moving in the right direction.
So everything's moving in the right direction but we've got a major decision coming out of Washington over the next few days what hangs in the balance -- apartments next year.
Given what's happening in DC.
Well if there S fiscal -- and and now hopefully -- -- don't have that always a very short period of time.
That people you avoid fiscal -- then -- can anticipate that economy continuing to expand or create two million jobs and the job creation and has been the source of the housing demand.
-- more on top of that we have the hostile formation beginning to burst out.
Rents rising which is beginning to -- some of the renters into buying a home.
And -- are so dates unimaginable.
Low mortgage rates so those are very enticing factors for homebuyers.
May not get an outcome what if we do follow up the fiscal -- what then.
-- now we will see a halt to the recovery because some most likely will will see you possibly one million net job loss as so rather than job creation and job loss says.
So the gains that we have been experience will come to a halt.
What about -- and then mortgages underwater they're over two million homeowners with -- underwater mortgages.
An issue that continues to hold this back how do we get that area and stock.
Well the best way to get deal on the water situation improving a small home prices to rise and so far this year home prices are rising about 5%.
That's translate into.
Two million people who have been on the water going above water.
But we still have remaining about that ten million additional underwater homeowners so next year additional 5% price increased which I anticipate.
-- these additional two million people coming above water.
Our -- who we are not out of the wood so for the underwater homeowners of the above we already proven on that ample recent homebuyers they're getting -- equity gains.
Very quickly how critical -- low mortgage interest rates continuing next year are part of this overall story we have Dodd-Frank credit and the regulation coming on sale.
We are concerned about some aspect of the Dodd-Frank which will could potentially.
Make the giving mortgages much more difficult.
But the low mortgage rates certainly has -- bring in buyers into the market.
Underwriting -- the state groups still remains overly -- -- some loosening their could've got to provide additional boost to housing recovery.
Well we are looking forward for the -- recovery to continue thank you very much Lawrence you know for being -- that's happy new year as well.
Happy new years.
Time is running out.
For some of the people who lost their homes to foreclosure.
In 2009 and 2010 they may be eligible for cash.
From -- few hundred bucks up -- even a 100000 dollars.
Under a government -- -- fourteen mortgage lenders.
Now a year ago the government sent out notices to.