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Housing prices to free fall in 2008 - Merrill Lynch report:

 
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PostPosted: Wed Jan 23, 2008 6:24 pm GMT    Post subject: Housing prices to free fall in 2008 - Merrill Lynch report: Reply with quote
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Description: Housing prices to free fall in 2008 - Merrill Lynch report: home prices to fall 15% in 2008, 10% in 2009, and more in 2010
URL: http://money.cnn.com/2008/01/23/real_estate/merrill_forecast/index.htm?postversi ...truncated...
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PostPosted: Thu Jan 24, 2008 12:49 am GMT    Post subject: Reply with quote
Quote:
The worst housing financial crisis in decades is only going to get worse, a Merrill Lynch report said Wednesday.

The investment bank forecasted a 15 percent drop in housing prices in 2008 and a further 10 percent drop in 2009, with even more depreciation likely in 2010.

By contrast, the National Association of Realtors (NAR) expects housing prices to remain flat in 2008. NAR did cut its home price estimate for the current quarter, however, to a 5.3 percent year-over-year decline, which represents the steepest drop in that price measure on record. But NAR sees an uptick in home prices in the last two quarters of 2008.

"Merrill Lynch's figures are way too pessimistic, and they are unprecedented," Lawrence Yun, the National Association of Realtors chief economist told CNNMoney.com.


I am not sure whom to believe Question

Merrill Lynch or the NAR (Realtors)
.
.

Lawrence Yun, the National Association of Realtors chief economist
has such a good and ACCURATE track record Rolling Eyes
.
.
.
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