NAR\'s Midyear Presentation on Economic Issues and Residential Forum

1. Real Estate statistics shared by Angelika The Housing Crash Is Over (Nearly) MARK ZANDI, CHIEF ECONOMIST FROM MOODY”S ECONOMY.COM

2. Housing Demand Is Off Bottom… New and existing home sales, mil Trend Sources: Census Realtors, Moody’s Economy.com

3. …And House Prices Are Near Bottom Case Shiller® Home Price Index: 2000Q1 = 100 Sources: Fiserv, Moody’s Economy.com

4. Job Growth Will Improve… % change year ago Job growth (L) Profit growth, lagged 3-qtrs (R) Sources: BLS, BEA

5. …Across More of the Country Business cycle status of metro areas as of January 2010 Expansion Recovery Moderating recession In recession Source: Moody’s Economy.com

6. Federal Govt. Will Continue to Fill the Void FHA share of purchase mortgage loans

7. The Federal Reserve Will Remain Aggressive Sources: Federal Reserve, Moody’s Economy.com

8. Vacant homes for sale, for rent and held off market, ths Sources: Census, Moody’s Economy.com A Surfeit of Housing Inventory…

9. …And the Foreclosure Pipeline Is Full First mortgage loans, ths Sources: Equifax, Moody’s Economy.com

10. The Structured Finance Market is Dormant Bond issuance, $ bil, annualized Source: Dealogic

11. There Is No Free Lunch Federal debt-to-GDP ratio Sources: BEA, Treasury Department, Moody’s Economy.com