A chief economist says that the Midwest may even be undervalued

Speaking at the National Association Of Realtors annual conference, Lawrence Yun (NAR’s chief economist) made two interesting comments:

1. The real estate values in the Midwestern United States may be undervalued. There is not a bubble.

2. Recovery for residential real estate will occur in 2008. He cites desirably low mortgage interest rates and a pent up demand for his prognostication.

For the full story in the Chicago Tribune, click here.

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