Monday, May 12, 2008
Tom Fudge: Are we there yet? At the end of the housing slump, I mean. Most economists and housing experts say no. In San Diego, the market flew so high on such shaky financing, we've got a little ways to go before housing prices stop falling. One thing that virtually guarantees the market will continue to be in doldrums is the large number of homes for sale, many of which have been taken by the bank. In fact, one local real estate economist predicts the sales of foreclosed homes will make up the majority of local sales this year.