Sidelined inventory, continued unemployment could mean trouble for housing recovery

11/20/2013 | American Banker magazine

While the recovery in U.S. home prices is encouraging, the issues of continued high unemployment and sidelined properties that could flood the market in a recovery pose threats to the housing sector, according to Steve Ozonian, chief real estate officer for Carrington Holding and former chairman and CEO of Prudential Real Estate. Ozonian attributes the current uptick in home prices to lack of supply. "This comes as a result of the fact that many homeowners are still sufficiently underwater that selling is difficult or impossible," he writes.

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