Economists See Housing Slowness
Thursday, July 24, 2014
U-T San Diego -- If the Great Recession sent the nation's housing market into the emergency room, the current market is still in the hospital, CoreLogic's chief economist said in San Diego on Thursday.
"There was a risk that it could have been fatal," said Mark Fleming, of the publicly traded real-estate data tracker. "We got out of the emergency room, we were in intensive care for a while, we're now out of intensive care but we're still in the hospital. We're not well yet."
Fleming spoke to more than 150 people at the University of San Diego's Burnham-Moores Center for Real Estate's mid-year economic and financial update, in which he said a lack of construction activity is what's most contributing to slowness in the market. (Full Story)