Friday, February 6, 2009

U.S. housing market suffering a price drop of more then 50 percent…

Since after the worst downturn of us housing market due to the affect of great depression the us housing market shows hope of some positive sign.

In the recent times housing market from Florida to California suffered a price drop of more then 50 percent; according to Mark Zandi chief economist 62% of nation i.e. 381metropolitan area may have experienced a decline in price drop by double digit percent. It is expected that in the second quarter of 2010 price decline may reach to a bottom.

Despite the economic crisis and the poor condition of the U.S housing market there are signs of improvement, necessary steps taken by the recently elected president Obama government will help the housing market to recover fully till the end of this year.

According to the analysis by Zandi on the impact of us economy stimulus package has been viewed by some of the top advisers of Obama administration; hope that the effect of great depression does not have the bad effect on the housing market.

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