Housing will continue to handicap the economy

While industry predictions vary, the approximate average estimate of the time it will continue to take for foreclosure inventory levels to revert back to historical levels, and those homes taking on a new life as a residential home to a new owner or an investor is 40 months.

This is not good news for an economy in a very slow-motion recovery mode.    Since housing has always had a significant influence on the economy, good and bad, one has a difficult time seeing anything near a boom in the near future in light of the housing sector and other current factors, such as the high unemployment rate,  tight business and personal credit programs, shaky financial markets, a very high annual national deficit, and a weak dollar.

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As a result, a robust real estate market for the majority of the country will remain on the shelf for at least the medium term

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