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Blog by William Johnston
San Diego, California
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Foreclosure Expert Predicts Housing Malaise

Posted at San Diego Real Estate Market News by William Johnston
Nov. 3, 2009
Tagged with: forelosure, housing, market, realestate, realtor, recovery, sellers

Potential Bad News for Sellers

Daily Real Estate News | November 3, 2009 |

The second wave of foreclosures is driven by unemployment and is harder to fix, says Rick Sharga, senior vice president of RealtyTrac, which researches foreclosures.

Sharga predicts an "L-shaped recovery in the housing market through 2013" with the housing market stabilizing without much increase in prices or construction.

"The housing market will not feel healthy for a few years. This is not a short-lived recession," he says.

Source: Newsweek, Nancy Cook (10/28/2009)


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