The WSJ published an article today (which you can see HERE) speculating on the housing market in 2011. Here are some interesting tidbits…..
*(2011) could very well be a peak year for foreclosures, says Rick Sharga, a senior vice president at RealtyTrac, an online marketplace for foreclosure properties…That’s partially due to issues the industry has faced with foreclosure processing that began in the fall and delayed a portion of foreclosures from being completed this year, he says.
*For the longer term, however, the outlook for the foreclosure market is better since fewer homeowners are becoming delinquent on their mortgage payments. Thirty-day delinquencies are down 11% since the height of the recession in the first part of 2009…
*High housing inventory, along with high unemployment, will likely add up to continued depressed home prices in the year ahead in many markets…
*(Analysts) are looking to 2012 for anything resembling a recovery in housing.