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Time to Buy Into Housing Market?

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    Prudential Douglas Elliman Vice Chairman Dolly Lenz on the outlook for real estate.

  • Duration 3:59
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-- thicken up getting into the real estate market especially with interest rates sitting at historic lows a thirty year fixed mortgage.

Stood at 3.5 7% in the month the generate does the average Iraq simple low that right now also ask yourself.

Is at the time the bucket to buy the lesions we were financing something lets us.

Our real estate experts think the jobs she's so tough and she's so -- -- is that seldom vice chairman joins -- on the Fox Business explicit.

You're known to be a -- -- when it comes to Manhattan real estate but overall do you think that.

That these adjacent to this day.

I didn't stay for the short term right it's up to the Fed how long this day but I mean a week a month.

Three months coming -- meeting guests -- more -- -- at this rate the rest of the year I think okay okay what does that mean then for.

Those that are looking to move up if you will move up from what they -- now had higher.

Is it that's have a market -- a positive you know.

Not such a positive -- where people are really looking to move up and -- them.

Great employment to have to have great credit you have to have mobility you have to have so many things really be able to trade up -- it's not such a trade up market yet.

All the absorption that we're seeing in the market -- -- these numbers wow.

New home starts this center the other thing right the -- slightly distorted I -- new home starts are distorted by a lot of multifamily homes.

Well those are really single family homes in new homes in effect right through and we're seeing absorption -- a lot of that is -- investors and all kinds of other groups not end users.

Just a lot of investor activity out in the market right now corrected and that's that's they -- catch fire that says -- -- abide.

Five condos in Florida synonymous element bikers went out -- 200.

Condo sometimes seeing that we're seeing reits I think small organization.

-- and it's not an end user.

You know it'll be a healthy market when it's first time home buyers real ones hand and end users.

Vs investors and everyone else you know what's gonna happen to the younger generation and I say this like the -- -- frankly let you know they're getting they're sitting here looking at whopper and a half percent 4%.

Gonna last forever what happens in three errors.

Or back to five and 6% we'll hopefully everything will stabilize employment -- stabilized and then they'll be confident.

Even if you just for -- a little higher.

If you're confident even have a job and everything is good I think it's okay then they'll be happy you -- jobs a couple of times unemployment is still you're really concerned about it still not just unemployment underemployment.

OK I mean everyone I talk to -- my pictured just got smaller January 1.

You know additional taxes.

All kinds of reasons the -- -- but those people aren't going to rush out to -- my real state you know so that it is a problem state senate colleagues about in this bill to come up and say -- and -- -- yeah like another such another bunch of -- exactly that's what happened January 1.

Let's talk about overall BO NHB has come -- it -- come on every month to talk to mean Terry Howard he talks about.

Builder confidence Lisa broken fifty level -- -- that fifty mark.

That's the positive mark a couple of regions in -- in the nation -- headed northeast has not for example so Wear the disconnecting.

I think the disconnect is builder confidence where you have a big demand from multiple family housing advocate for apartment buildings -- you know town home garden apartments that type thing.

Demand is there where -- single family housing.

You know out somewhere that's not so communicable except for it's not there and that's the disconnect.

I had to ask -- just because you are you know some of The -- -- agent to the stars and meet our restraints and -- -- -- -- little.

Luxury clients there really multi million dollar.

Properties.

Is that market strong will stay strong share the market in New York City is strong and that's mostly due to an overall lack of supply.

-- and we have all kinds of people buying -- New York.

The foreigners.

Investors.

Users I mean we have so much so many buyers and so many pools that it works.

All right well Manhattan as one store the rest of the nation certainly another -- perspective -- -- -- thank you -- very much are right ahead an extra 29 and I call yeah.

Well I think it.

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