The housing problem continues to haunt the economy (see graph below from CoreLogic). Jared Bernstein notes the following (see here):
A key variable here is the share of total sales that are distressed. As the figure below shows, that share was falling a few months ago, but it’s started growing again, and as long as a) it’s growing and b) the price of distressed sales is falling, the national price will continue to fall and we’ll be doing slightly worse than bumping along the bottom.
No comments:
Post a Comment