Housing Turnaround in Sight?
Housing Turnaround in Sight?
An annual report from Harvard University's Joint Center for Housing Studies offers optimistic data on residential market recovery, such as growth in home resales, a drop in supply, and favorable interest rates.
On the other hand, more than 2 million homes were in some stage of foreclosure in early 2012, and the number of delinquent borrowers remains far above historical norms.
Also, more than 11 million home owners are underwater, and prospective buyers are having problems getting financed because banks are more cautious about lending.
Source: "Housing Turnaround in Sight?" Washington Post (June 14, 2012)
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