Home prices will continue to fall
The Economy, Real Estate July 2nd, 2009
CNBC reports that:
U.S. housing prices will fall by a double-digit percentage from already beaten-down levels, resulting in an overall 40 percent plunge by the time foreclosures peak in the second half of 2010, Barclays Capital economist Michelle Meyer said.
“While the early signs of improvement are in place for housing, the market will likely remain out of balance for some time, given the flood of foreclosures,” Meyer wrote.
“Home prices are likely to continue to fall, albeit at a slowing pace, even after the economy technically emerges from the recession.”
