Housing Panel Predicts Housing Recovery 2 Years Away
Housing Panel Predicts Housing Recovery 2 Years Away
Housing Panel Predicts Housing Recovery 2 Years Away
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April 1, 2011 (Jeff Alan)
mortgage-crash-image
A housing panel consisting of economists and real estate experts, predicts that housing prices will likely continue to slide for two more years with a tentative projection of a weak recovery beginning in 2013. Nearly half of the 111 economists polled by MacroMarkets, co-founded by industry expert Robert Shiller, believe the housing market will see a double-dip in housing prices sometime this year.

Overall, the panel predicts that home prices will likely decline another 1.4 percent this year. In 2012, the panel believes that most of the losses experienced this year would be made back with prices finally rising above current levels starting in 2013, with a foreseen gain of only 2.7 percent. Even by 2015, the panel predicts that there will be a gain of less than 10 percent over current prices.

In a similar survey back in December, only 15 percent of the panelists surveyed projected the possibility of a new post-crash low, compared to 50 percent today.

Terry Loebs, MacroMarkets managing director, said, “In December, only 15 percent of our panelists were projecting that a new post-crash low would materialize for national home prices. Now, just three months later, almost 50 percent foresee a double-dip happening this year, and not a single panelist expects national home prices to recover to the pre-bubble trend in the coming five years.”

Shiller attributes the panel’s dismal outlook on high unemployment, market oversupply, the continuing foreclosure crisis, and constrained mortgage credit.

Loeb notes in the monthly Home Price Expectations Survey that home price levels are already nearing the panels predictions as home prices at the national level are now less than 1 percent away from establishing a new post-crash low.

Loeb described the latest survey results as “the most pessimistic collected to date.”

Tags: housing panel, economists, real estate experts, housing prices, Robert Shiller, double-dip, home price decline, high unemployment, foreclosure crisis, oversupply

Sources:
DSnews
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Determine how much car you can afford before buying
Learn About
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Compare 15 year and 30 year mortgage loans
Todays Mortgage
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April 1, 2011 (Jeff Alan)
mortgage-crash-image
A housing panel consisting of economists and real estate experts, predicts that housing prices will likely continue to slide for two more years with a tentative projection of a weak recovery beginning in 2013. Nearly half of the 111 economists polled by MacroMarkets, co-founded by industry expert Robert Shiller, believe the housing market will see a double-dip in housing prices sometime this year.

Overall, the panel predicts that home prices will likely decline another 1.4 percent this year. In 2012, the panel believes that most of the losses experienced this year would be made back with prices finally rising above current levels starting in 2013, with a foreseen gain of only 2.7 percent. Even by 2015, the panel predicts that there will be a gain of less than 10 percent over current prices.

In a similar survey back in December, only 15 percent of the panelists surveyed projected the possibility of a new post-crash low, compared to 50 percent today.

Terry Loebs, MacroMarkets managing director, said, “In December, only 15 percent of our panelists were projecting that a new post-crash low would materialize for national home prices. Now, just three months later, almost 50 percent foresee a double-dip happening this year, and not a single panelist expects national home prices to recover to the pre-bubble trend in the coming five years.”

Shiller attributes the panel’s dismal outlook on high unemployment, market oversupply, the continuing foreclosure crisis, and constrained mortgage credit.

Loeb notes in the monthly Home Price Expectations Survey that home price levels are already nearing the panels predictions as home prices at the national level are now less than 1 percent away from establishing a new post-crash low.

Loeb described the latest survey results as “the most pessimistic collected to date.”

Tags: housing panel, economists, real estate experts, housing prices, Robert Shiller, double-dip, home price decline, high unemployment, foreclosure crisis, oversupply

Sources:
DSnews
MortgageLoan
Distractable.com (Image)

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools

April 1, 2011 (Jeff Alan)
mortgage-crash-image
A housing panel consisting of economists and real estate experts, predicts that housing prices will likely continue to slide for two more years with a tentative projection of a weak recovery beginning in 2013. Nearly half of the 111 economists polled by MacroMarkets, co-founded by industry expert Robert Shiller, believe the housing market will see a double-dip in housing prices sometime this year.

Overall, the panel predicts that home prices will likely decline another 1.4 percent this year. In 2012, the panel believes that most of the losses experienced this year would be made back with prices finally rising above current levels starting in 2013, with a foreseen gain of only 2.7 percent. Even by 2015, the panel predicts that there will be a gain of less than 10 percent over current prices.

In a similar survey back in December, only 15 percent of the panelists surveyed projected the possibility of a new post-crash low, compared to 50 percent today.

Terry Loebs, MacroMarkets managing director, said, “In December, only 15 percent of our panelists were projecting that a new post-crash low would materialize for national home prices. Now, just three months later, almost 50 percent foresee a double-dip happening this year, and not a single panelist expects national home prices to recover to the pre-bubble trend in the coming five years.”

Shiller attributes the panel’s dismal outlook on high unemployment, market oversupply, the continuing foreclosure crisis, and constrained mortgage credit.

Loeb notes in the monthly Home Price Expectations Survey that home price levels are already nearing the panels predictions as home prices at the national level are now less than 1 percent away from establishing a new post-crash low.

Loeb described the latest survey results as “the most pessimistic collected to date.”

Tags: housing panel, economists, real estate experts, housing prices, Robert Shiller, double-dip, home price decline, high unemployment, foreclosure crisis, oversupply

Sources:
DSnews
MortgageLoan
Distractable.com (Image)

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.