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Where the Housing Bust Is Still Doing Damage
Tweet Share on Facebook February 2, 2011 Comment (2)How long could it possibly last? At least another year, in some places.
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Where The Housing Bust Is Finally Ending
Tweet Share on Facebook February 2, 2011 CommentA buzzer won't go off when it happens, but 2011 could be the year that the housing bust officially ends. Nationwide, prices have fallen by about 30 percent since the peak in 2006, and Moody's Analytics thinks they could fall another 5 percent or so in 2011.
[See 15 cities where the housing bust is still doing damage.]
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Why the Housing Bottom Might Be Here
Tweet Share on Facebook February 2, 2011 Comment (6)Predictions can be risky, and downright foolish if you're trying to guess the direction of the wayward housing market. Yet thousands of potential home buyers are making bets every day on whether the housing bust is over, or only at an intermission.
[See why you might be better off than you think.]
More and more, they're gambling that the worst is past. And it is in fact a gamble, because there's still some evidence that the rout in housing continues. The latest data on home prices, for instance, shows that prices have turned south again after an encouraging but brief rebound in 2010. Some economists even predict a "double-dip" in housing prices. Foreclosures are still near record highs, and they could get worse before they get better, thanks to the recent controversy over bank improprieties and a stall in foreclosure proceedings. Unemployment remains stubbornly high, meanwhile, and unrest in the Middle East is yet another reminder of the many things that can unexpectedly rattle the global economy.
