IVY ZELMAN SHARES OPTIMISM FOR THE HOUSING SECTOR
I attended a guest lecture at the University of Utah last Friday where Ivy Zelman of Zelman & Associates was the featured speaker. Ivy was one of the few that correctly predicted in 2005 the housing bubble burst that would take place in 2008. In her presentation on Friday she shared some of the same optimism that she shared on a recent interview for CNBC where she said “I think we’re in Nirvana for housing,” pointing to a 30 year low in inventories in the United States, favorable mortgage financing, and rent inflation in the apartment sector. She believes that housing prices are poised to rise for the next four to six years. This is not only great news for the housing sector but will also be great news for Commercial Real Estate in Utah.