We estimate that roughly 3.2m foreclosures must be prevented in 2010 for home prices to stabilize or potentially tick up,” researchers said. “This is an uphill challenge, but a combination of current government programs and their future iterations offer a narrow path for success.”
This projection comes as Deutsche Bank researchers say these predictions will likely become a reality, with the total peak-to-trough decline of US home prices hitting nearly 40%. In the current outlook, they say home prices will drop a further 10 to 12% from current levels
So much for RE recovery in 2010 !
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