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Is the Housing Recovery In Sight or Will Prices Fall Lower | Interview with Ashley Webster
Sam Chandan speaks with Fox Business News' Ashley Webster regarding the latest Case-Shiller home price index data, which show a year-over-year decline in sales prices. Dr Chandan explains that investors and sales out of distress account for an unusually large share of activity, exerting downward pressure on the price metrics. Improving but modest job growth and difficulties in qualifying for mortgage finances remain key obstacles to stronger primary housing demand. A pilot project by the FHFA that will reposition up to 2,500 homes for the rental market may be a factor in future absorption of housing by renters.
Watch the interview at Fox Business.