Housing Market Comeback: One Man's Take

I've got a link for you to a Bloomberg News Video (see below). In it, Rick Sharga, Vice President of RealtyTrac, discusses the latest foreclosure statistics and then gives his take on the timing of the housing market comeback. It'll be worth your while to watch. Among other things discussed in the video are the following statistics: 1 in every 519 U.S. households are in some stage of foreclosure; April had the single highest number of U.S. households getting foreclosure notices in one month; April foreclosures increased 4% over March and 65% over April 2007; an extraordinarily high number of subprime adjustable rate loans reset next month (which can't help but continue the foreclosure problems). Sharga then gives his forecast on the housing market comeback. Based on the continuing foreclosure situation, he thinks it won't be until late 2009 or early 2010 that we see a turnaround. It's just one man's take. The video is about 5 minutes.

CLICK HERE TO WATCH INTERVIEW

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