No recovery in home prices until 2020?

Posted by Scott Van Voorhis October 4, 2011 05:14 AM


That's what the nation's bankers are predicting in a survey just released by FICO.

Nearly half - or 49 percent - of risk management officers surveyed at banks across the country don't see home prices climbing back to 2007 levels for nearly another decade.

By comparison, just 21 percent thought prices would rebound before the decade ends.
An even larger number - 73 percent - are banking on foreclosures being a major problem for at least another five years. About half, 46 percent expect mortgage delinquencies, the first step towards an eventual foreclosure, to rise over the next six months.

OK, I haven't exactly been breathlessly following FICO's surveys, so I guess I missed this, but the bankers are apparently feeling markedly sour as of late after a burst of relative optimism early this year.

more

http://www.boston.com/realestate/news/blogs/renow/2011/10/no_recovery_in.html