The Morning Report
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This week’s a big one for investors and experts focusing on the housing market. The Associated Press has this run-down of the week’s data release schedule. I know it sounds dry, but there’s a lot riding on some of these numbers. The AP offered this explanation:
Wall Street has been fairly confident that falling home prices and rising mortgage defaults won’t damage the broader economy, but if mortgage rates — closely tied to the 10-year Treasury note yield — keep rising, fewer people will want to buy homes and fewer homeowners will be able to refinance.
If that happens, the residential real estate market’s troubles could snowball, eat into consumer spending and dampen corporate profits.
Zooming in on the San Diego housing market, a few of my go-to sources on what’s happening in local real estate — and Nerd’s Eye View blogger Rich Toscano — will be speaking to a group of financial executives tomorrow evening.
The event will feature Toscano, North County Realtor and blogger Jim Klinge, and local real estate analysts Gary London and Alan Nevin, with the panel moderated by KPBS’s Alan Ray. We’ll keep you posted with an update on the event.