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Housing outlook 2011: When home prices will head up

Posted on 11 January 2012

The lowest mortgage interest rates in almost 60 years, plus affordable homes in cities where buyers had been priced out for years, should be turning the housing market around. But the market also labors under some heavy burdens: a glut of foreclosures that are dragging down home prices, high unemployment and tight credit. Sales fell off a cliff after the home-buyer tax credit expired.
And “foreclosure-gate” — legal squabbling about the process used to repossess many homes — postponed the sale of many foreclosed properties and struck yet another body blow to confidence in the housing market…………………………………….Full Article: Source


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