“Too many people are underwater on their mortgages for a robust recovery. Any recovery depends on people not making the economically prudent decision of walking away from their underwater mortgages. It will be several years before we see any substantial gains in the housing market.” -- Janelle Baranowski, PIDC
“A weak recovery in housing is likely this year and beyond. Returning to pre-recession levels of housing activity will take 4-5 years.”
“Interest rates will increase as will inflation. The federal gov't can’t continue to spend money at the rate.”
“Unless unemployment starts to improve the market will not rebound robustly. Also the commercial market will make borrowing very difficult.”
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