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No rise in home prices until 2020: Bankers

Posted on 03 October 2011

Dr. Andrew N. JenningsHome prices are unlikely to recover before 2020 and mortgage defaults will persist for years, says a survey of bank risk managers. The survey conducted by the Professional Risk Managers’ International Association for FICO, found that 49 percent of respondents do not expect housing prices to rise back to 2007 levels for another nine years. Only 21 percent of respondents said they would.
The findings, which authors called “a decidedly pessimistic outlook”, are a sharp reversal from cautious optimism the survey respondents expressed late last year and in early 2011……………………………………….Full Article: Source

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