| U .S. home prices are set to fall further. There is nothing policymakers can do to forestall this, but there are things they can do to mitigate the severity of the decline. With Europe in disarray, the supercommittee struggling to reduce the federal deficit and a payroll tax increase looming next year, help for the housing industry could make the difference between a continued economic recovery and a double-dip recession.
House prices are currently being driven by distressed home sales -- foreclosure and short sales. About a third of home sales nationwide involve distressed properties, an astounding figure.............................................Full Article: Source
|