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Moody’s foresees 10pct drop in US housing prices

Posted on 04 April 2012

Recall when yours truly attended Americatalyst, a real housing/mortgage nerd conference last November, and the panel that was asked to forecast housing had no one predicting more than a 2-3% decline? I was gobsmacked because no one seemed to be acknowledging the huge number of foreclosures in process plus those likely to happen (“shadow inventory”).
Moody’s has focused on one aspect of the issue and does not like what it sees. Recall this Moody’s forecast follows one from Fitch of an 8% to 10% decline in housing prices………………………………………..Full Article: Source


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