07.10.2008 - US housing recovery possible in 2010
From Inman.com: Until the excess inventory of 950,000 single-family homes and condos sitting vacant in the United States has been depleted, no significant housing upturn is likely until 2010 at the earliest, according to a housing market analysis. In its latest issue of Research Notes, the National Multi Housing Council estimated there are approximately 825,000 excess vacant single-family homes and 125,000 excess vacant condos beyond normal vacancy levels in the United States. Add to that some 2 million in excess houses and condos that are occupied and on the market, and the housing market faces incredibly rough times over at least the next 14 months..... Full Article: Source