The Housing Market Continues its Decline

Freefall: America, Free Markets, and the Sinking of the World Economy

www.commuterswap.net – Work Closer. Live More

“As the overall economy improves and the employment situation grows a little less dire, the question becomes whether real estate can muddle through — or if it will need a new round of government support to ward off another damaging downturn.

There are plenty of reasons for worry. The Obama administration’s effort to compel lenders and servicers to modify loans has not been a success. Many of these owners will eventually lose their homes to foreclosure.

Meanwhile, a quarter of homeowners with mortgages owe more than their houses are worth. If prices start dropping again, some will be induced to walk away, further undermining the market.”

The housing market is still in retreat with no signs of recovery. If you need to relocate, but you’re unable to sell your home, swap it instead with Commuter Swap. Just because your stuck with you home, doesn’t mean that you’re stuck in your home.

source: The NY Times – http://www.nytimes.com/2010/01/06/business/economy/06econ.html

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