Foreclosures, inventories to delay housing recovery to 2010

05/20/2009 | InvestmentNews (free registration)

Falling prices, rising foreclosures and a huge inventory of unsold homes suggest a broad recovery in the housing market is unlikely until next spring, possibly later. The construction of homes and apartments dropped 12.8% in April to 458,000 units, the fewest in 50 years, the U.S. Commerce Department reported.

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