Yahoo Finance is reporting today a projected 11 percent plus national home price reduction forecast.
“Home values are predicted to drop in 342 out of 381 markets during the next year, according to a new forecast of real estate prices.
Overall, the national median home price is predicted to drop 11.3% by June 30, 2010, according to Fiserv, a financial information and analysis firm. For the following year, the firm anticipates some stabilization with prices rising 3.6%.
Mark Zandi, chief economist with Moody’s Economy.com, agreed with Fiserv’s current assessments. “I think more price declines are coming because the foreclosure crisis is not over,” he said.”
Anyone who was trying to sell a home during the recession of the 90′s remembers how devastating to home prices foreclosures were.
How can this be called a recovery?
The full article can be viewed at -
http://finance.yahoo.com/news/Homes-About-to-get-much-cnnm-699910894.html?x=0
