End in Sight for Housing Crash
Thursday, February 5th, 2009 | Link | Spread The Word!
As Reported in Reuters, Moody’s Economy.com published a report today with some hopeful news about U.S. housing markets. While the report first predicts declines in home values exceeding 20% in 100 metropolitan areas nationwide, it goes on to predict that the housing markets may bottom out in the fourth quarter of 2009. This depends on the government taking some drastic steps to stabilize the greater economy. It’s been three years since prices began correcting and it appears as though the end may finally be in sight. How this news affects individual communities around the country will vary. New York is only just beginning to see a downturn in their robust housing markets. Meanwhile places like Stockton, California, that had relatively high rates of exposure to subprime and investor lending and have long since hit catastrophic foreclosure rates.