BrokerageIndustry News

Experts: No quick housing fix

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U.S. economic troubles, including the compounding credit crisis, are taking a toll on the housing market, said real estate industry experts during a conference call Thursday hosted by real estate search company Trulia. "Bad news is always the worst thing to hit the market, more than fact or reality," said Barbara Corcoran, a real estate veteran and author who founded Manhattan's Corcoran Group and is a contributor to CNBC and NBC's "Today Show." It takes a "brave soul" to be in the market these days, she said. The heavy focus on the proposed federal mortgage bailout plan, which could cost hundreds of billions of dollars, has definitely hurt the housing market, said Corcoran, causing some would-be buyers to "run for the hills" and to "position themselves on fences and wait this out." She likened the "battered market" to "a sail fluttering in the wind." "I feel like I'm watching the American Dream d...