The Chattanoogan Hotel on Broad Street played host to a joint luncheon of the Greater Chattanooga Association of Realtors and the Home Builders Association of Greater Chattanooga as they both welcomed Dr. Lawrence Yun, chief economist and senior vice president of research with the National Association of Realtors.
Speaking to a packed room of Realtors and Home Builders, Dr. Yun painted a positive picture of current financial trends that he believes will continue into the next two years.
“After the housing bubble 'bust' of 2008, the real estate market has been sluggish, but continuing to climb back to figures that we’re more accustomed to.” Dr. Yun continued, “Due to interest rates remaining low, home sales have shown an increase, but federal financial regulations, such as the Qualified Residential Mortgage have made it more challenging for home buyers to find adequate financing.”
Speaking on more political issues, Dr. Yun urged the audience to be vigilant concerning strict regulatory measures continuing to decrease the amount of potential first-time buyers and the potential end to the Federal Reserve’s use of Quantitative Easing, to which Dr. Yun stated, “If the Federal Reserve continues to print money, there is the potential to see signs of inflation, which might lead to a direct impact on interest rates for borrowers.”
Dr. Lawrence Yun is responsible for a wide range of research activity for the National Association of Realtors, including NAR’s Existing Home Sales Statistics, Affordability Index and the Home Buyers and Sellers Profile Report. Dr. Yun also forecasts and participates in many economic panels for Blue Chip and Harvard University’s Industrial Economist Council. In 2008, USA Today named Dr. Yun among the top 10 Economists in the Country.