The longest expansion on record in the nation has set off the sparks in the market of housing and there are three economists who have spoken at the events of real estate forecast saying in the previous week that they are not expecting this year to be too much different.
Economists say that taking into consideration that they were only a decade out from the recession in the world, by all the measures they should be celebrating. The housing market though, in particular in Chicago is not anywhere near the place it should be at.
This is despite the fact that the analysts feel it is a great time to purchase a home. The stock markets of the consumer confidence and employment have been high and the interest rates had been low.
Other economists have been saying the same too. They feel that the housing has seen improvement at a modest pace for many years and there is an expectation of the pace being the same.
The most positive part of the outlook of economists is that they are not expecting the real estate market of Chicago to become negative.
The analysts say that there have been 126 months where the growth has happened and this has bettered the 120 months which was in the 1990s and they feel that the growth pattern will be continuing for a lot more years. There are those who feel that the recession is due as the company’s economic cycle is established in that way. They further say that the expansion might be the reason it has lasted so long and is going to last further too for many years.