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(EMAILWIRE.COM, September 15, 2009 ) Destin, FL — Despite falling home prices in many areas of the country, housing markets are stabilizing, according to a new report by Housing Predictor. In its report, Housing Predictor details where markets are stabilizing and provides insight on what can be done for the nation’s housing markets to return to a healthy balance.
The stabilization of housing markets is widely accepted as being the first step in the nationÂ’s overall economic recovery.
For all their lack of meaningful action, government leaders are finally in agreement that the foreclosure epidemic, which was forecast by Housing Predictor nearly three years ago, is the most severe economic problem facing the U.S. today. Without stabilization in housing from the worst housing depression since the Great Depression, real estate economists warn the economy will worsen.
The mortgage rescue plan offered by the Obama administration to help borrowers is riddled with problems as was his predecessorÂ’s. The subprime mortgage rescue plan offered by President George W. Bush provided an enormous lee-way for weakness to develop in the economy that fell into a deepening recession.
The investment and real estate markets were at their highest levels in the nationÂ’s history at the height of the real estate boom. More than 4 million homes have been foreclosed, and even the Treasury Department now says millions more will be foreclosed.
The crisis has broadly extended into the conventional mortgage market and has taken a major toll on the national economy as unemployment rises and business failures climb.
Housing Predictor forecasts more than 250 local housing markets in all 50 states, offers real estate news and analysis and foreclosure listings. Visit http://www.housingpredictor.com
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