Housing Predictor Forecasts Record Deflation

Home prices are sliding in the majority of real estate markets. Housing Predictor forecasts record housing deflation in 2009.

[USPRwire, Tue Dec 09 2008] An already weakening economy will see home prices fall at unprecedented levels in most U.S. housing markets. The credit crisis will trigger more home price losses in the majority of the nation in 2009, leading to historic losses in value, according to the new Housing Predictor national forecast.

Although home sales in some markets have improved over the past few months, the foreclosure epidemic has broadened into markets that had hardly been impacted. It’s gotten harder and harder to get financing on real estate purchases, which has made a damaging impact on the nation’s economy.

The government’s bailout programs have made little impact on the nation’s housing market, which are at the root of the crisis after the U.S. Congress deregulated the securities traded on Wall Street at the core of the financial crisis at the end of the Clinton Administration. The crisis is making major impacts on real estate markets as foreclosures hit new record highs.

Housing Predictor was the first research firm to forecast the foreclosure epidemic and the real estate depression, and carefully monitors more than 250 local housing markets in all 50 states. The crisis has broadened to all but a few handfuls of markets scattered throughout the country.

When the forecasts were first issued few seemed to grasp the gravity of the foreclosure epidemic. However, the crisis now receives daily news coverage as it impacts the overall economy. Government leaders have allocated more than $2-trillion in bailout funds. But have not yet directly dealt with direct aid for homeowners threatened with foreclosure, which are at the core of the problem.

The unprecedented number of foreclosures has sent banks, mortgage companies, insurance companies and other businesses into a tailspin as each foreclosure damages the national economy.

Find out the full details of the new national forecast and other real estate news at http://www.housingpredictor.com