Fitch says recession would stretch housing downturn into 2008

Long-term prospects for home builders, housing are good

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The downturn in the housing market could extend into 2008 if a recession develops before the housing market bottoms out, according to analysts at Fitch Ratings who track the home-building industry.

In a new report, Fitch analysts say home builders will continue to produce new housing at a reduced rate into next year as the U.S.