Posted on Monday, December 27, 2010
Twenty-three economists surveyed this month by CNNMoney.com expect home prices to be flat in 2011. Five of the economists expect prices to fall in 2011 and then climb only 2.2 percent in 2012.
The problem is unemployment. John Ryding, chief economist of RDQ Economics, says the working-age population grew by 4 million in the last three years, adding to the depth of the problem. Most of them aren’t represented by unemployment statistics, he says, because they are working part time or have given up looking for a job.
Source: CNNMoney, Chris Isidore (12/22/2010)