By Marcie Geffner • Bankrate.com
Foreclosures. Short Sales. Unemployment. Tight credit. Overbuilding. Those are but some of the reasons housing markets in many parts of the country remain stubbornly depressed, even while activity in other economic sectors has begun to rebound.
New-home building and sales of existing homes historically have been leading economic indicators, pointing the way to robust recovery after a downturn. In the current cycle, however, that hasn't happened, says Lawrence Yun, chief economist at the National Association of Realtors.
"Housing has always been the leader in terms of getting the economy back on track," Yun says, "but that is not the case this time around."
Full story:
http://www.bankrate.com/finance/mortgages/why-the-housing-crash-remains-a-wreck-1.aspx
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