Housing Market in US

Some analysts have said the housing market is stabilizing because the rate of foreclosures slowed last month and seems to trend that direction. But I understand that this recession is way different from any previous ones in history. It is treating the US-housing a 3-fold blow and is in waves.

The downturn started with the unsustainable house prices and the novel loans the banks sold to naive consumers. The second downturn was due to growing unemployment that followed and is still a contributing cause. If predictions are to be believed the third will be due to a high number of mortgages that are going to reset in the second half of 2010. Have to see if there is going to be an effective antidote showing up during the ensuing months.

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