Industry NewsMarkets & Economy

Top 10 Real Estate News Stories of 2009

Economy, tight lending, foreclosures dominate
Published on Dec 23, 2009

Editor's note: While 2009 thankfully did not offer an economic repeat of the panic that struck Wall Street in 2008, it was nonetheless another painful year for the real estate industry and nation as a whole. In this report, Inman News reflects on the major news events of the year.  By MATT CARTER and ANDREA V. BRAMBILA 1. The economy: an unemployment, construction disconnect In past recessions, unemployed workers and the housing sector were like two climbers roped together on the side of a mountain face in a fierce gale. When investment in new-home construction picked up, that would create jobs and boost spending, spurring more homebuying and construction and helping lift the economy out of the doldrums. This time around, with homes continuing to enter the foreclosure process at an alarming rate and adding to the real and "shadow" inventory of homes, few economists expect new-home construction to drive down unemployment or ignite a recovery. Although the pace of job...

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