http://www.bloomberg.com/news/2011-05-31/home-prices-in-20-u-s-cities-decline-to-eight-year-low-case-shiller-says.html
“With the foreclosure pipeline still full to bursting, it’s hard to see this downward pressure on prices abating,”said Paul Dales, a senior U.S. economist at Capital Economics Ltd. in Toronto. “I wouldn’t be surprised to see prices continue to fall this year and maybe into next year.”
Further declines in home prices are likely to constrain the consumer spending that makes up 70 percent of the economy, as homeowners feel less wealthy and have little home equity to borrow against.
“We still see housing demand at very weak levels,” Wheat said. “It could still be a struggle in 2012.”
“With the foreclosure pipeline still full to bursting, it’s hard to see this downward pressure on prices abating,”said Paul Dales, a senior U.S. economist at Capital Economics Ltd. in Toronto. “I wouldn’t be surprised to see prices continue to fall this year and maybe into next year.”
Further declines in home prices are likely to constrain the consumer spending that makes up 70 percent of the economy, as homeowners feel less wealthy and have little home equity to borrow against.
“We still see housing demand at very weak levels,” Wheat said. “It could still be a struggle in 2012.”
No comments:
Post a Comment