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Despite having few signs of stabilizing, the U.S. housing market won’t trigger the national economy to fall into an overall economic depression, providing a rare positive sign in the nation’s real estate crisis, according to a new report by Housing Predictor.
The positive news is provided by real estate analysts, who spent more than two months compiling data and pouring over it to determine their findings for the forecast. Housing Predictor forecast the nation’s foreclosure epidemic and the housing depression long before either became a reality in the day’s headlines.
In fact, the likelihood of a Great Depression occurring like that of 1929 when the stock market crashed and unemployment hit 25% is so remote that analysts aren’t even providing a percentage. Signs of an improving housing market are beginning to appear, and should become apparent in 2009 in the majority of housing markets.
Housing Predictor profiles the nation’s economy and its study in a new online report. As the majority of housing markets struggle through the worst real estate deflation since the Great Depression, more and more people are turning to Housing Predictor for its forecasts. More than 250 local housing markets are forecast on an annual basis on the web site in all 50 states.
Financial markets all over the World have been severely impacted by the credit crisis, which has sent stock prices to near record lows in many cases and caused the largest increase in U.S. bankruptcies since the early 1990’s. The epidemic of foreclosures has topped 3-million units nationwide since the housing crisis started more than a year ago.
Record high housing inflation sent markets to all-time home prices, but many markets have already suffered from deflation as much as 60% in home values. However, despite the doldrums some rare markets are still experiencing appreciation, which are profiled in Housing Predictor’s Top 25 markets.
Some housing markets are beginning to approach their bottoms from an economic point of view as the commercial real estate market begins to unwind with falling values. The crisis in the commercial real estate market is only beginning to unfold.
Read the entire report, check market forecasts and search for foreclosures at http://www.housingpredictor.com
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