Interestingly, the National Association of Realtors predicts a gradual recovery during the second half of 2008 as the mortgage situation improves.
I’m sure we would all love to see a recovery before the end of the year. But that remains to be seen given the current mortgage climate where more than 120 mortgage lenders have either filed bankruptcy or closed their doors all together.
We have seen home prices drop in most major markets with sales activity at its lowest level since at least the late 1980’s – around the same time the Savings and Loan Fraud Crisis hit its peak. [Read more…]