MBA expects home boom to continue

MBA expects home boom to continue: "WASHINGTON -- June 24, 2005 -- Mortgage Bankers Association Chief Economist Doug Duncan says he expects dramatic home-price gains to continue next year. He also anticipates a jump in the homeownership rate over the next two years, with 2005 marking the fifth straight year of record home sales.

According to Duncan, baby boomers will account for a majority of the buyers, as only 70 percent of them own homes at the present time. Additionally, he believes that interest rates will rise only slightly during the next two years, enabling many homebuyers to fit a mortgage into their budgets."