I been in real estate for a long time and right now is worse than ever!
Interestingly when talking about the housing crisis, they never mention the realtors,home improvement industry,etc etc etc that is supported by that industry.
The lack of knowledge in this admin is freightening.
Assuming this is not a set up for phony “good news,” bad news with the unemployment rate on Friday may be the final death knell for BOcare.
How long do you see it taking for housing to turn around and begin its sluggish recovery? We have a huge shadow inventory of foreclosures to get through before we can even begin to speak of new inventory from new housing starts. Mortgage interest rates are historically low and are doomed to rise significantly. We have a lot of ARM resets to get through this year and next, maybe 2012 as well.
When do you expect the carnage in RE to end and a weak recovery begin? Before 2015?