Housing Markets Reach Stabilization
Mike Colpitts
September 15, 2009
Despite falling home prices in many areas of the country, housing markets are stabilizing, according to a new report by Housing Predictor. Housing Predictor details where markets have reached stabilization and provides up to date insight on what can be done for the nationīs markets to return to a healthy balance.
The stabilization of housing markets is widely accepted by economists as being the first step in the nationīs overall economic recovery.
For all their lack of major action to improve market conditions, government leaders are finally in agreement that the foreclosure epidemic, which was forecast by Housing Predictor nearly three years ago, is the most severe economic problem facing the U.S. today.
Without stabilization in housing markets throughout the country from the worst housing depression since the Great Depression, real estate economists warn the economy will worsen.
The mortgage rescue plan offered by the Obama administration to help borrowers is riddled with problems as was his predecessorīs. The subprime mortgage rescue plan offered by President George W. Bush provided an enormous lee-way for weakness to develop in the economy that fell into a deepening recession.
The investment and real estate markets were at their highest levels in the nationīs history at the height of the real estate boom. More than 4 million homes have been foreclosed, and even the Treasury Department now says millions more will be foreclosed. The crisis has broadly extended into the conventional mortgage market and has taken a major toll on the national economy as unemployment rises and business failures climb.
Housing Predictor forecasts more than 250 local housing markets in all 50 states, offers real estate news and analysis and foreclosure listings. Visit http://www.housingpredictor.com
The stabilization of housing markets is widely accepted by economists as being the first step in the nationīs overall economic recovery.
For all their lack of major action to improve market conditions, government leaders are finally in agreement that the foreclosure epidemic, which was forecast by Housing Predictor nearly three years ago, is the most severe economic problem facing the U.S. today.
Without stabilization in housing markets throughout the country from the worst housing depression since the Great Depression, real estate economists warn the economy will worsen.
The mortgage rescue plan offered by the Obama administration to help borrowers is riddled with problems as was his predecessorīs. The subprime mortgage rescue plan offered by President George W. Bush provided an enormous lee-way for weakness to develop in the economy that fell into a deepening recession.
The investment and real estate markets were at their highest levels in the nationīs history at the height of the real estate boom. More than 4 million homes have been foreclosed, and even the Treasury Department now says millions more will be foreclosed. The crisis has broadly extended into the conventional mortgage market and has taken a major toll on the national economy as unemployment rises and business failures climb.
Housing Predictor forecasts more than 250 local housing markets in all 50 states, offers real estate news and analysis and foreclosure listings. Visit http://www.housingpredictor.com
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