(EMAILWIRE.COM, November 18, 2009 ) Destin, Florida — Housing Predictor is forecasting that housing markets will improve in 2010 and others will sustain lower average losses in home values. The new national forecast for deflation is the lowest average since the real estate downturn began nearly four years ago.
Markets will be aided by the federal government’s extension and expansion of the federal tax credit and other government actions. The full national forecast may be found at Housing Predictor dot com.
On going problems in the mortgage market and slow government response to the crisis complicate a recovery in housing, contributing further price deflation in home values in the worst hit areas. Markets in California, Florida and Nevada are among the most heavily affected, where there are record foreclosures.
The housing crash has sent home prices lower by an average of at least 30%, and in some of the worst hit urban U.S. areas home prices have dropped as much as 75%. The devaluation has been attributed to loose lending guidelines by bankers, mortgage fraud and an appetite on Wall Street to claim record profits, triggering a history making epidemic of foreclosures.
Housing Predictor was the first independent real estate research firm to forecast the foreclosure epidemic and the housing depression. Housing Predictor forecasts more than 250 local real estate markets in all 50 states, real estate news, and offers analysis on housing markets at http://www.housingpredictor.com
Housing Predictor
Mike Colpitts
8506221016
yourrealestatepro@hotmail.com
Source: EmailWire.Com
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