Friday, Jun 19, 2009
No time soon....
Cnn: Searching for a bottom in the housing market
Indeed, prices in the battered housing market could get a lot worse before they get better as an avalanche of specialized adjustable rate mortgages, known as option ARMs and Alt-A mortgages, are slated to reset over the next 18 to 24 months, and rising unemployment causes a surge in the number of prime mortgages going into default. All of this is expected to trigger another round of foreclosures and cause home prices to tumble at least another 20%
Posted by mark @ 12:38 PM (365 views) Add Comment
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