Is the housing crunch over?

To adapt the late Speaker Tip O’Neill’s phrase “all politics is local”; I believe “all real estate is local”. Meaning an overall picture is only interesting to economists and decision makers. For the average guy real estate is a local phenomenon. So is the housing crunch over? Depends on how local you want to get.

Most agree: Housing crunch isn’t over yet – “Only 9% of economists say the housing decline ended in 2006, according to a USA TODAY survey of 55 economists taken Jan. 18-24. Another 42% said the downturn will end in the first half of the year, and 45% said housing will bottom out in the second half.”

This site is for informational purposes only. It is not sponsored or in any way affiliated with the government. If you are in need of a mortgage loan, consult with a licensed mortgage professional. All fair housing and equal housing opportunity laws apply when applying for a mortgage or buying a home. Copyright 2012.