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US housing market needs renovation

Posted on 29 August 2011

Tim LawlessUntil the US housing market starts to right itself it’s unlikely US consumers are going to gain too much confidence and without confidence the chance of economic recovery will remain a forlorn dream.
House prices are still down 32% from their 2006 peak and this is where the viscous cycle kicks in. Depressed house prices decimate loan-valuation ratios which triggers defaults but wannabe vendors can’t sell in a falling market……………………………………….Full Article: Source

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