Real Estate Expert’s Grim Outlook on the Housing Marketadmin / 0 Comments /
Some real estate experts are concerned about the future of the real estate market and their conclusions about the real estate market may make some homeowners take pause.
In an article published by DSNews.com, titled “Residential Real Estate on ‘Shaky Ground’”, an interview with real estate analyst Keith Jurow is summarized. The article states he doesn’t believe there was really any real estate recovery, In fact, according to Jurow, “the “illusion” stems from lenders and mortgage services not putting foreclosed properties on the market.”
The market is at risk of due to factors such as subprime mortgages, poor home sales and mortgage defaults, despite many mortgages being modified. Shockingly, the article notes, “There are currently $800 billion of subprime mortgages still outstanding, many of which have not been paid at all in the last five years.”
Jurow’s alarming conclusion is homeowners considering selling before the market gets much worse. Read the entire article.