Monday, October 3, 2011

Survey sees no housing recovery until 2020

That prediction has to be just a guess.  Many things can happen in 8 years.
Bankers have dusted off their crystal balls, and what they see isn't pretty.
A new survey of risk managers across the country found that about half of them don't expect housing prices to return to 2007 levels until 2020. The survey by consumer credit firm Fair Isaac Corp. and the Professional Risk Managers' International Association found that most expect mortgage defaults to be a significant problem for years.
"They don't see things getting any better, and the data reflects that," said Andrew Jennings, chief analytics officer at Minneapolis-based Fair Isaac (also known as FICO) and head of FICO Labs. "They don't see the future being any brighter.
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