3-2012 Market UpdateWhat’s UP/Down with Housing and Lending?

(c) KendallTodd, Inc. - 2012www.kendalltodd.com

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Key Takeaways1) US Economy: Continue to improve, but slowing (neutral).2) Jobs: Continue to improve (positive).3) Savings: Declining slightly (negative).4) Inventory: Continue to decline (positive).5) Valuation: Still declining (negative).6) Future: Housing stabilizing, but prices will take longer to respond.7) Investors: Paying cash to get bargain prices.8) New Buyers: Mass affluent isn’t as affected by stock price

appreciation, still waiting to see housing prices improve.9) Overall: Bottom forming in housing, but still have a ways to go.

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Market UPdate

General Market

Street Level

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$163,500 Median Price

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Where Are We Now?

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Market UPdate

General Market

Street Level

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(c) KendallTodd, Inc. - 201235

Key Takeaways1) US Economy: Continue to improve, but slowing (neutral).2) Jobs: Continue to improve (positive).3) Savings: Declining slightly (negative).4) Inventory: Continue to decline (positive).5) Valuation: Still declining (negative).6) Future: Housing stabilizing, but prices will take longer to respond.7) Investors: Paying cash to get bargain prices.8) New Buyers: Mass affluent isn’t as affected by stock price

appreciation, still waiting to see housing prices improve.9) Overall: Bottom forming in housing, but still have a ways to go.