Merrill Lynch economists are forecasting that housing prices could decline by 5% next year and that the slowdown in the housing market could push the United States toward a recession."The much-vaunted housing market correction, which has finally hit the U.S. economy, has the potential to pull the U.S. to the brink of recession by early 2007," according to Merrill Lynch's global economic team. The economists declared that housing has become "extremely overvalued," by 20% to 40%. "Merrill Lynch expects an outright decline in housing prices of about 5% next year," they said. The economists also warn that new home construction could be in for a prolonged slump. "Judging from past experience, housing starts decline by 50% peak-to-trough, and the correction lasts well over two years," they said.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
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The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.
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Equity is entitled to a little over $70,000 worth of damages.
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Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
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Deferrals are up but still haven't outpaced loan modifications in conservatorship-era foreclosure prevention, according to the Federal Housing Finance Agency.
March 27