Up To 75% Of Modified Mortgages To Re-Default -FitchLast update: 5/26/2009 1:40:49
home prices are far away from rising again. Unemployment will continue to rise, foreclosure activity up, upper income RE is starting to significantly cave in, and banks are undercapitalized to give good money to bad borrowers. There is a massive inequilibrium on on the demand-supply equation. Prices will continue to go down, although we'll see median home price numbers go up as the high end starts selling at reduced prices but RE is still 3-7 years away from hitting bottom.