‘Housing Market Double Dip Confirmed as Prices Fall 3.9% in 4Q’

the hits just keep coming……………………

“The main reasons for falling home prices are the massive supply of unsold homes in this country, and the weak demand for these properties.  A record setting number of foreclosures in 2011 should only increase the already massive surplus of homes.  High unemployment will continue to keep demand for these homes bottled up.  These conditions more or less guarantee that the equilibrium price point will continue to shift lower.”

read more here:

http://www.totalmortgage.com/blog/mortgage-rates/housing-market-double-dip-confirmed-as-prices-fall-3-9-in-4q/10356

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