Foreclosures in metropolitan Phoenix will continue to climb in 2009, says prominent Wall Street housing analyst Ivy Zelman, a factor that will continue to hold back any recovery of the Valley's housing market and overall economy. Zelman said lenders need to find more ways to help struggling homeowners find lasting solutions.
Zelman's assessment was one of several predictions from national economists and real estate analysts at Urban Land Institute Arizona's Real Estate Trends Conference today at the Phoenix Convention Center.
This annual conference has become a must-attend event for people involved in Arizona real estate because of the expert speakers and their honest, even startling projections. Last year, there was stunned silence when analysts predicted home prices would fall 30 to 35 percent off their 2006 peak and any recovery was years away. So far home prices are more than 40 percent off the peak.
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Posted by Auto Accident Lawyers in Phoenix, Arizona
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