BREAKING NEWS

RNR Real Estate Briefs – Texas & more

Stockdale Buys Upscale Houston Hotel

Transformative Apartments Opening in East River

Impact Update: Petrochemicals and Port Houston

Astrodome Vision Advisor Wayne Ratkovich Passes

Houston Entity Files Chapter 11

REALTY NEWS REPORT - Logo

Banner
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact
FacebookLinkedinYoutubeEmail
REALTY NEWS REPORT - Logo

2017 Economic Growth Expected to be 2 percent, Fed Official Tells Realtors

by Realty News ReportNovember 5, 2016
Share0
Dennis Lockhart of the Federal Reserve speaks to reporters at National Association of Realtors convention in Orlando Friday. (Photo by Ralph Bivins, Realty News Report)
Dennis Lockhart of the Federal Reserve speaks to reporters at National Association of Realtors convention in Orlando Friday. (Photo by Ralph Bivins, Realty News Report)

ORLANDO, Fla. — U.S. economic growth – which is likely be below 2 percent this year because expansion in the first half was weak, only growing at an annual rate of 1.1 percent through June — is expected to be 2 percent next year, a top Fed official said Friday.

“I expect the fourth quarter and 2017 to be consistent with a continuing theme of moderate annual growth of around 2 percent,” Atlanta Federal Reserve President and CEO Dennis Lockhart told members of the National Association of Realtors (NAR) at the organization’s annual meeting in Orlando.

He added, though, his outlook for the housing sector is optimistic. “I think the longer-run housing outlook looks promising because of demographic trends and projected household formation,” Lockhart continued. “In the near term, the broad economy seems to be on a moderate growth path, which should be good news for your industry.”

Speaking for himself, Lockhart said he anticipated a very gradually rising interest rate environment over the next two years. “I do not see rates marching higher for an extended period in a preprogrammed tightening campaign,” he said. “The economy does not call for that, at least not at this time. Rate decisions will continue to be data-dependent and, therefore, meeting-to-meeting, in my view.”

Lockhart cautioned that Realtors should not interpret the prospect of rising rates as ominous. “Although higher interest rates will raise the monthly payment cost of housing for some new borrowers,” he said, “factors like wage growth and employment should improve overall affordability.”

Nov. 4, 2016 Realty News Report Copyright 2016 

Share0
previous post
CBRE’s Mark Taylor: Houston’s Pockets of Weakness and Sectors of Strength
next post
Realtors: 2016 Will Be The Best Year for Home Sales in a Decade

Related posts

RNR Real Estate Briefs – Texas & more

Realty News ReportSeptember 30, 2023

Stockdale Buys Upscale Houston Hotel

Realty News ReportSeptember 29, 2023September 29, 2023

Transformative Apartments Opening in East River

Realty News ReportSeptember 28, 2023September 28, 2023

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Search News

new version
ECD-RealtyNewsReport-Ad-300x250
Partners Ad
CBRE Ad
Arch Con Corporation Ad
Hines Ad
Avera Ad
Ziegler Cooper Ad
Lee & Associates Ad
2021 Realty News Report Ad
Property Logos
RNR - Lincoln Property Company
Hal Gordon - Property Tax Lawyer
Hunington Ad
Evergreen Commercial Realty
230725-RNR_Digital-Ad_Red
griffin
Hunington Ad

Let's Connect

logo
About US
Author Ralph Bivins is editor of Realty News Report, which covers regional and national news. Bivins recently received the Gold Award for Best Column in the National Association of Real Estate Editors Journalism Competition. Contact us
Follow us
FacebookLinkedinYoutubeEmail
@2022 All Right Reserved. Powered by CGS Digital Marketing
REALTY NEWS REPORT - Logo
FacebookLinkedinYoutubeEmail
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact