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Housing sector won't recover in 2008, experts predict: foreclosures expected to peak in the fall.

Publication: San Diego Business Journal
Publication Date: 30-JUN-08
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Undermined by the mortgage crisis, which are still wreaking havoc, the housing market will not be saved in 2008, analysts say.

Foreclosures from adjustable rate subprime mortgages are expected to peak in the fall and continue through the end of the year, dragging prices and saturating the market with foreclosed properties.

Though good news for bargain hunters and contrarian investors, difficult times will continue for most homeowners, especially those paying a premium on recently purchased homes and now face historical high...

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