Over the weekend yahoo!finance offered an interview that gave Indianapolis real estate optimists some of the most positive opinions they’ve heard in a while. The source was an onscreen interview with TV’s Barbara Corcoran, a permanent celebrity panelist on the perennial hit series. Yahoo’s headline story provided the simple encouraging prediction: “Housing Prices are Going to Go Through the Roof.”
That view came from a well-respected source. Corcoran, herself a real estate entrepreneur as well as a Shark Tank regular, believes there “will be a major swing in the real estate market as soon as interest rates drop.” Her prediction that “All hell’s going to break loose and prices are going to go through the roof” was backed up with specifics. She expects buyers to come back out “and buy like crazy”—with house prices [likely to] go up 20%”
Among other ideas, she pooh-poohed fears that a major housing market crash might be in the cards. Unlike the leadup to the last market dip, “people aren’t overleveraged.” She pointed to evidence that people have now invested their own hard-earned money in their properties—a situation completely different from the previous subprime mortgage runup. Corcoran’s predictions were not altogether optimistic, however. She pointed to weakness in the commercial real estate market, where she sees the inevitability of “a bit of a bloodbath” before improvement will be possible.
Indianapolis real estate observers have been hearing considerably more guarded outlooks from industry analysts, so the upbeat take might well have lightened the mood in many a Labor Day cookout. If you were able to enjoy a fine Labor Day weekend, I hope it kicks off a fall season to remember. Also worth remembering: whenever it’s time to put my Indianapolis real estate expertise at your disposal, just call!