Infographic: Will America’s Housing Market See a Rebound?
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In 2008, toxic subprime mortgages triggered a full-scale financial crisis in the United States and while the economy is moving towards a slow recovery, America’s housing market is still not out of the woods.
In 2008, toxic subprime mortgages triggered a full-scale financial crisis in the United States and while the economy is moving towards a slow recovery, America’s housing market is still not out of the woods.
The housing market crisis has dashed the dreams of hopeful homeowners with over 8 million Americans at least one month behind on mortgage payments, while five million are at least two months behind. At the same time, 600,000 residential properties remain foreclosed and how this might impact the housing recovery will take years to unravel. Perhaps someday the number of housing sales will start to creep in the positive direction again, but until then a majority of Americans believe that a housing recovery is still years away.
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