Mathews Associates

"Building Lifestyles for Life"

The Housing Market Correction Will Come To A Close This Year!

Posted by Dwight Mathews on January 7, 2011

As long as the Banks keep hording their inventory, which in turn is keeping prices artificially high-I agree! Sooner or later however, the bubble must burst in order for prices to find the real bottom in value. So far that hasn’t occurred. Extend and pretend waiting for the economy to catch up I’m afraid is a long way off. Buyer Beware-There is Bad Advice Everywhere. On the street Economics is where the real experts live.
clipped from view.exacttarget.com

Expecting a Housing Bottom in 2011

Moody’s Analytics Chief Economist Mark Zandi and Senior Director Celia Chen invite you to join them
as they discuss the housing and mortgage markets.

The housing market correction will come to a close this year thanks to
accelerating job growth and low house prices. Foreclosures will still cast a
pall on the housing market, however, weighing on the national house price index
for much of 2011. Downside risks are receding, but the housing recovery remains
fragile.

  • Housing will hit bottom this year. Home sales and construction are already
    at their lows and house prices should bottom by the fall.
  • Key to this outlook is an economy whose engines are fully engaged and
    businesses who are hiring more aggressively.
  • Foreclosures, which will drive another 5% decline in house prices, remain
    one of the main risks to the outlook.
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