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You are here: Home / Real Estate News / Housing and the economy: Rising from the ruins

Housing and the economy: Rising from the ruins

November 7, 2011 by Bill Fulton

 

 

The economic landscape is unquestionably littered with the wreckage of the crash. Home prices languish near post-bubble lows, over 30% below peak. The plunge in prices has left nearly a quarter of all mortgage borrowers owing more than the value of their homes; nearly 10m are seriously delinquent on their loans or in foreclosure. The hardest-hit markets are ghost neighbourhoods, filled with dilapidated properties. Housing markets are far from healthy. Yet current pessimism seems overdone. A turnaround in sales, prices and construction may be closer than many imagine.

via Housing and the economy: Rising from the ruins | The Economist.

Filed Under: Real Estate News

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