|
'Modest' Housing Recovery Forecast to Begin in 2008
Though there appears to be no let-up to the current housing downswing, economists participating in the NAHB Construction Forecast Conference in Washington, D.C. on Oct. 24 said they expect the industry to bottom out and to start turning around in 2008.
Acknowledging that there is definitely downward momentum in the market at this time — with starts, sales, prices and permits off and problems persisting in the subprime and Alt-A mortgage markets — NAHB Chief Economist David Seiders said that housing should nevertheless begin a modest recovery next year.
|
