Monday, November 1, 2010

Housing Will Not Recover For Years

Note: Read the comment section of this article, showing the public rage of this collapse.


The robo-signing controversy is just another issue that the already sluggish housing market didn't need -- but most analysts do not think it will have far-reaching impact.

Nevertheless, the housing market still faces many problems: a weak economy, sluggish hiring, tight mortgage underwriting, falling home prices, and slowing sales.

Then there's the potentially disastrous number of foreclosures that may occur over the coming years.

"The market faces much bigger problems than the robo-signing issue," said Mike Larson, a housing market analyst for Weiss Research.

Prime among them are declines in home prices. And while cheaper homes are good for buyers, they also speak to a housing market that won't stabilize.

Fiserv, a market analytics company, has scaled back its home price projections considerably. In February, it forecast national price gains of about 4% through the end of 2011. The company's latest prediction is for a 7.1% drop in prices between June 30, 2010 and June 30, 2011.

In fact, after five months of gains, prices in the 20 largest metro areas fell 0.2% in August, according to the latest S&P/Case-Shiller report.

5 comments:

  1. Al Cia Da Tries to Scare USA citizens

    ReplyDelete
  2. fake terror alerts by Al Cia Da Try to Scare USA Citizens

    ReplyDelete
  3. 2.6 billion is Chickenfeed!

    The free rents going to the Private House of the Fed from government are worth much more than $2.5 billion a month.
    A licence to print paper money as national debt , now THATS a business!

    ReplyDelete
  4. BofA tells people when they ask to see the note they don't have the right to see the note they signed onto..ain't that a laugh! ..it's..jungles of brazil and places where the gov had sold and given papers of title then years later when GE and others needed carbon credit hedges evicted these serfs and said those deeds weren't legal. banana republics hardly bother to hide the graft

    ReplyDelete
  5. 6.43
    Dont worry about all that contract law stuff all will be put right in the end by the Supreme court.
    And backdated.
    Right now Obama is sitting on a pocket veto till after the election for a bill that blesses and legalises the robosigners as legal and unquestionable across state lines.

    America does not have an old fashioned rule of law ,but in a corporate State , Courts that enforce Law by rule.

    They can make the new rules up and backdate them in a semi monarchy and in congress as they go along.

    ReplyDelete

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