2008: The Year of the Bailout

By Matt Carter and Glenn Roberts Jr.

Friday, December 19, 2008

2008 was an unforgettable year for the real estate industry, and one that many industry professionals would not care to repeat in their lifetime.

The federal government engaged in a series of incredible actions in an effort to stave off an economic collapse, sales of bank-owned properties and short sales accounted for the bulk of real estate transactions in some market areas, and unemployment has been rising — which will likely feed a new flurry of foreclosures.

Home prices have been jetting down as fast or faster than they shot up during the boom in some hard-hit markets, and tightening mortgage requirements and the credit crunch have locked out some would-be buyers. Few real estate companies will emerge unscathed from this economic and housing downturn, and some will not make it through this difficult time.

In this special report, Inman News takes a look at the 10 biggest news topics from the past year.

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