Experts Predict U.S. Housing Crisis Will Continue Through 2010

Summary

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Although the federal government is taking unprecedented actions to help the U.S. economy, experts who spoke at a forecast meeting on Wednesday said the current recession will continue to have a negative impact on the housing market through 2010.

The current housing climate is so bad that, by one analyst's calculations, there is a 12-year inventory of homes worth more than $1.5 million in east Clackamas County. The equivalent figure for west Portland is about two years, and one year's inventory in east Portland.

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Experts Predict U.S. Housing Crisis Will Continue Through 2010

Speaking at the 2009 Housing Forecast, Jerry Johnson, a principal with Johnson Gardner, said a key indicator that the housing market was about to crash came when condo...

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