Renovation-Radio.com Housing Market Update: National Public Radio (NPR) Discusses What It Will Take To End The “Housing Bust” (Audio)

National Public Radio (NPR) discusses the potential end to the housing crisis with economist Mark Zandi explaining what it will take for the bust to end — and sketches out housing’s profound influence on the broader economy.

If you want to know when the bust will end, Zandi says, look at foreclosures and short sales. Those typically occur at a big discount to prevailing prices, so they push overall prices down.

At the moment, almost a third of all houses being sold are foreclosures and short sales. The housing bust won’t really be over until that percentage falls sharply. Zandi says that’s likely to happen by the end of next year.

For more:  http://www.npr.org/blogs/money/2010/11/02/131017239/the-tuesday-podcast-the-end-of-the-housing-bust

Renovation-Radio.com: National Public Radio (NPR) Airs “Volatile Housing Market Baffles Homeowners”

Tax credits for buyers, mortgage help for homeowners and new rules for lenders haven’t stopped the slide in the housing market. Some economists argue the best way to balance the market in the long term is to let it crash in the short run. Many homeowners and prospective homeowners are unsure if it’s time to buy, to rent, or to wait.