Archive for the ‘Industry News’ Category

Housing Crash goes from Bad to Worse

I keep hoping, as so many of us do,  that the economy is getting better. The news relative to housing is bad.

“New data just out from Zillow, the real-estate information company, show house prices are falling at their fastest rate since the Lehman collapse.”

Housing prices are expected to continue to fall at a pace of 1 percent per month till sometime in 2012. An 8 percent drop in prices is expected for the year — same as last year. The number of homeowners in an “upside down” equity position has shot to 28 percent.