Notes From All Over

By early October 2005, more than 11,000 Realtors® had contributed toward the National Assn. of Realtors® donation of $1.1 million toward Hurricane Katrina relief. In 2005, 43% of first time buyers bought their home with zero down payment. According to the Kiplinger Letter, the Dow will hit a new high, not seen since 2000 because of less competition from real estate and an end to the Fed’s rate hikes by midyear. Global housing needs are being driven by a population shift in developing countries where people will be migrating from rural to urban areas in search of economic opportunities. Half the global population lives in urban areas and the predicted population burst will require infrastructure redevelopment and housing solutions for 3 billion more people by 2030.