www.nytimes.com -- Even as new figures show house prices have risen for three consecutive months, concerns are growing that the real estate market will be severely tested this winter.Artificially low interest rates and a government tax credit are luring buyers, but both those inducements are scheduled to end. Defaults and distress sales are rising in the middle and upper price ranges. And millions of people have lost so much equity that they are locked into their homes for years, a modern variation of the Victorian debtor’s prison that is freezing a large swath of the market.“Plenty of pain yet to come,” said Joshua Shapiro, chief United States economist for MFR. He is forecasting an imminent resumption of price declines.
Click here to read full article...
Read more:, , What You Should Know
Got something to say to us? Then send us a letter.
Want us to stick around? Donate to The eXiled.
Twitter twerps can follow us at twitter.com/exiledonline
Leave a Comment
(Open to all. Comments can and will be censored at whim and without warning.)
Subscribe to the comments via RSS Feed