Economist Mark Zandi says the United States is "nowhere near" a housing market recovery, but he can nonetheless see a light at the end of the tunnel. Zandi, the chief economist of Moody's Analytics, sees home prices rising at the earliest at the end of 2012, when buyers snapping up cut-rate foreclosures and short sales will have cleared the market to the point that the percentage of distressed sales starts to fall. "We're still in the housing crash," he said.
Money
Source: Reuters
