(EMAILWIRE.COM, June 3, 2009 ) Destin, Florida -- As the economy suffers through its worst recession since the Great Depression, housing markets are sustaining the worst drop in home values ever experienced. With markets in trouble Housing Predictor has updated more than 50 forecasts in dozens of states in a major forecast update.
Housing Predictor dot com forecasts more than 250 local housing markets the beginning of each year and updates forecasts as market conditions change throughout the entire year. Never before in the website’s history have there been as many market forecasts to change as as trouble in the economy and mortgage conditions deteriorate, despite the Obama administration’s efforts to stabilize housing.
More housing market forecasts are certain to be adjusted in coming weeks in many of the nation’s states as the government tries to get a handle on the financial crisis, and slow housing deflation, falling at record levels in many of the country’s worst hit markets. The loss in housing values means fewer homeowners will be able to borrow against their homes or refinance their mortgages.
The crisis has triggered an epidemic of foreclosures, which has now topped 4-million homeowners and is forecast to worsen in coming months. However, new home buyers are getting some of the best deals in more than a decade as they take advantage of the federal government’s $8,000 tax credit purchasing a home this year.
Leading retailers, real estate companies, home builders, bankers, real estate investors, home owners and many of the country's largest businesses depend on Housing Predictor forecasts.
Housing Predictor forecasted the foreclosure epidemic and regularly conducts Predictor Polls to gauge consumer opinions on issues related to real estate. Get the latest forecasts, search foreclosures and check real estate news at http://www.housingpredictor.com
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