Daily Real Estate News | January 22, 2010 | 
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Fewer Defaults: Could the Worst Be Over?
The number of consumer loans that are going bad is leveling off, reports Bank of America, Wells Fargo and other large banks, signaling that the worst could be over.
Bankers reported that credit quality is stabilizing with lending losses expected to peak this year.
But analysts warned that any new hit to the economy could reverse the trend with all aspects of the recovery dependent on an improving employment picture.
"In the second half of the year, it will be more and more important for the overall economy to improve at a faster clip," says Anthony Polini, a banking analyst at Raymond James.
Source: Bloomberg News, Andrew Martin (01/20/2010)
This could be really good news for home sellers and buyers
www.NewportCoastRealEstateTeam.com
Marlene Dietrich, Tony and Mike
Re/Max 100 - Dunkirk, MD
Kendall Haney Realty Group - Memphis, TN
CRS, GRI, ABR, SRES
Marlene that would be so great. If we start seeing the market improve it will benefit so many people.
Jan 24, 2010 04:59 AM
HomeSmart Elite Group - Scottsdale, AZ
CRS, GRI, SFR
Hi Marlene!! That would be fantastic!! I just hope that it is true!! The shadow inventory here in AZ really does concern me though along with so many strategic defaults at higher price points!!
Jan 24, 2010 05:17 AM
Rainmaker
167,104
167,104
Marlene Dietrich
Neighborhood Real Estate Specialist
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