Double Dip In Housing Market Caused By Failure to Prosecute Mortgage Fraud

[Joanne98]

What follows here is largely a synopsis of this article.

Demand for housing remains tepid as job growth is weak, the unemployment rate remains above 8% into 2011 and the negative inventory trends prove too much for the real estate market to overcome. Ultimately, home prices are very likely to decline 7%-15% over the course of the coming two to three years.

We've seen clear evidence in recent weeks that the housing double dip is in process. Price declines have varied depending on different reports with the decline of prices of new homes reported as much as minus 13% year over year. The problems in housing are not going away and continue to be a problem of supply and demand.

If you're attempting to visualize the problems in the housing market look no further than the following three charts (via Mortgage News Daily):

http://www.opednews.com/articles/Double-Dip-In-Housing-Mark-by-Richard-Clark-110129-778.html