Also in this playlist...
This transcript is automatically generated
-- -- take a look at the latest housing figures.
-- and it's not pretty -- either way you look at it look at this very ugly and despite all this data.
And five years of making bear tracks all over the street my next guest is ready to declare himself bull bull.
Joining me now Rodney Anderson executive director of supreme landing in Dallas Ronnie why the sudden change -- -- here.
Well five reasons Chris number one interest rates fall eight weeks in a -- people are starting to get excited.
Number two home builder traffic picking up.
But not only for inventory homes they are now signing new construction bill contracts number three.
Rental rates continue to skyrocket.
People are starting to see where the rent rates are going up ten to 20%.
Number -- yes a little little loosening in the lending guidelines to used to be 20% down to get a Jumbo loan.
Now we're start to see ten per -- down products also the last thing.
Everybody's telling -- okay got rent pay when everybody starts telling you do one thing you go the other way it's the best best -- -- Las Vegas.
Ever asked you buck that trend and you go the -- so.
Why when it's going to be hard to buck the trend with these employment numbers and that's the one thing you know what you're talking budding trees foot traffic down highlights they'll blow I don't build badges man doesn't walk on a lot -- he wants -- -- but it he has lost his job he had no way to fly.
Yeah -- Chris let's break this down Joplin Missouri half the city gets wiped out half -- employment Mary gets wiped out.
All these areas contribute to unemployment claims rising on a weekly basis but we're gonna start seeing.
Those unemployment claims start moving lower again.
Business is starting to pick up.
These record low interest rates are starting to get people excited again even with that said -- don't we have a long way to go -- we -- through all this inventory that hasn't even got on the market yet these homes that are distressed.
That may go into foreclosure at some point time in the next 09 to twelve months.
Yes -- look this going to be a slow recovery we're gonna start -- in the south first -- for example in the local area Dallas Fort Worth area.
30% of homes were underwater two years ago the numbers just came out yesterday only eleven point 9% of homes are under water.
We're gonna start seeing this as a regional area of come back.
But we're gonna start seeing this and -- -- yet.
We're gonna -- -- numbers move ever so slowly.
But they're gonna start moving into the positive areas -- few more seconds left -- -- what do you see in terms of lending standards -- his prep for people who already own a home.
And they they aren't going to be in a market they don't for see it I think it scares -- to hear that Bono we might be getting back into lending standards that got us into trouble in the first place how far -- other standard sliding.
Know what I mean is standards that make sense not sub prime standards not stated income standards standards -- the pendulum has got to spend a pendulum has swung too far one way and now all of a sudden it's moving back a little bit Chris 640 on FHA.
You're also talking about some Jumbo loosening up -- -- Jumbo market has been decimated.
Rodney is getting ahead of the recovery -- Anderson our new housing -- we'll check back we -- a couple months Roddy.
Filter by section