NAR economist Lawrence Yun talks foreclosure/housing market in Springfield

Dr. Lawrence Yun, chief economist for the National Association of REALTORS®, was in Springfield, Illinois, today to talk about the real estate market and the role foreclosure moratoriums, historic affordability and most importantly, future job creation will have on the industry in the months to come.

In this video, Yun talks about why a national, government-imposed foreclosure moratorium would create harmful uncertainty in the market, how the Illinois market compares to the rest of the country and why the winter selling season will be a critical indicator of the health of the market without government stimulus.

Dr. Yun’s program “Economic Outlook in Uncertain Times” was sponsored by the Capital Area Association of REALTORS®.

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