April 1, 2011 (Brian Michael)
A housing panel consisting of economists and real estate experts, predicts that housing prices will likely continue to slide for two more years with a tentative projection of a weak recovery beginning in 2013. Nearly half of the 111 economists polled by MacroMarkets, co-founded by industry expert Robert Shiller, believe the housing market will see a double-dip in housing prices sometime this year.
Overall, the panel predicts that home prices will likely decline another 1.4 percent this year. In 2012, the panel believes that most of the losses experienced this year would be made back with prices finally rising above current levels starting in 2013, with a foreseen gain of only 2.7 percent. Even by 2015, the panel predicts that there will be a gain of less than 10 percent over current prices.
Loeb described the latest survey results as “the most pessimistic collected to date.”
No comments:
Post a Comment