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Saturday, October 1, 2011

Housing Prices will remain depressed for half a generation

Housing prices will NOT climb back to 2007 levels before 2020. That's the belief of a majority of bankers in FICO's latest quarterly survey of bank risk.

The survey shows that bankers expect delinquencies on consumer loans to rise, underwriting standards to become stricter and the housing sector to continue struggling far into the future.

"Housing has been an enormous drag on the economy for over three years as U.S. households lost trillions of dollars in equity," said Andrew Jennings, FICO's chief analytics officer. "Many bankers clearly believe prices will remain depressed for half a generation."



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