While most housing analysts believe there will be no double-dip recession, the number of foreclosures will continue to hound the industry in 2010. "The only guys predicting a double-dip recession are guys who want to make a name for themselves," said John Tuccillo, national residential consultant and the former chief economist of the National Association of Realtors."If they can call this one right, everybody will remember them. But, in reality, it will be a long, grinding, slow recovery. Banks are sitting on too much cash now for a double dip, and I don't think most people see that happening." Lawrence Yun, the present NAR economist, expects the $8,000 first-time homebuyer credit extension to continue to stimulate the lower end of the market, influencing the entire housing ladder. As more first-timers move in, others move up. About 47 percent of all home sales in 2009 involved first-timers, up from 41 percent in 2008 and 36 percent in 2006. Yun believe...
by Ingrid Burke | on Feb 20, 2017
by Inman | on Feb 14, 2017
by Gill South | 6 days
by Steve Cook | 4 days
by Brad Inman | 3 days