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‘It's an unsettling time to be shopping for a home. Home values have yet to stabilize in three-quarters of U.S. metropolitan areas. Alarm about so-called robo-signing of foreclosure paperwork has raised fundamental questions about who owns a property's title. And, while unlikely, two bipartisan commissions have suggested capping or killing the previously sacrosanct tax deductibility of mortgage interest.’
‘Seeing so many foreclosures hit the market, and watching what has happened with prices, has ingrained a bargain-basement mentality in many buyers, say agents.’
From Businessweek.com > The Next Home Buyers: Ozzie & Harriet
‘The U.S. housing market is showing signs of falling deeper into a slump that could weigh on the nation's economic recovery.’
"The housing market is stuck at the bottom, and we've been stuck there for months," said Patrick Newport, an economist at IHS Global Insight.
From WSJ.com > Slump in Housing Prices Deepens
Mike Larson, a housing market analyst for Weiss Research, said that positive and negative forces have been offsetting each other, leaving a market in limbo.
"You have low home prices and interest rates on the one hand, but trouble getting financing on the other," he said. "And unemployment remains stubbornly high."
From CNNMoney.com > Existing home sales slow down
Millions of foreclosures and weak demand from buyers are forcing home prices down in most major U.S. cities.
Prices are falling even in places like San Francisco and San Diego, which had posted strong increases just a few months ago. Analysts say many markets won't improve until they see fewer foreclosures and more job gains.
From Yahoo News! > Home prices falling faster in most metro areas
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