If You Think Home Prices Are Rising, Think Again
I know recent monthly data has everyone thinking that the freefall in home prices is over. I don’t buy it….Mark Zandi, of Moody’s Economy.com, told Reuters today, “the housing crash is not over.” Zandi predicts home prices will not bottom until Fall of 2010, after falling 38 percent from their peak.
Why? Foreclosure Invenories.
