“In housing, look for the rental market to lead the way and for some improvement in the single-family space in parts of the country,” says Frank Nothaft, Freddie Mac’s VP and chief economist.
According to the report, investors should expect less single-family originations but more multifamily lending in 2012.
The report also finds that economic growth will likely strengthen to about 2.5 percent in 2012. The U.S. unemployment rate will decline but likely remain above 8 percent. Mortgage rates will likely remain very low, at least through mid-2012.
“All told, next year will be another bumpy ride,” says Nothaft.
Click here to view the complete December 2011 U.S. Economic and Housing Market Outlook [PDF].
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