Revises Housing Forecast in Light of Government Shutdown

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Advises Real Estate Investors to Be More Cautious Than Before

News Image said this is the first time they have ever had to revise a forecast. is revising their recent report that was bullish on the housing market in light of the effects of the ongoing government shutdown, the company said yesterday.

“Three weeks ago we released a positive review of the property market,” a spokesman said. “That report was based on the information we had available to us at the time. In light of recent events, we felt the need to revise that report because we are very worried about the state of the real estate market in the immediate future.”

The bullish housing market report was based on the assumption that mortgage rates would remain low, bringing new buyers into the market, which would lead to good returns for real estate investors.

“Now there is reason to worry that U.S. debt will be downgraded by one or more ratings agencies,” the spokesman said. “When that happens, it raises the prime rate, which eventually raises the mortgage rate. Should mortgage rates suddenly increase dramatically, it will have a negative impact on the housing market. That will make real estate a much riskier investment than before.” said this is the first time they have ever had to revise a forecast.

“We try to anticipate everything,” he said. “But predicting a downgrade in the U.S. credit rating is not something anyone would expect.”


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Karmen Jones
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