Is Housing Moving Towards Disaster?

John Lounsbury; It may seem to lack self-consistency, but foreclosures and pending sales both increased in the third quarter. In the face of this seemingly conflicted data, the Mortgage Bankers Association has come out with an optimistic forecast of significantly higher home sales quantities for 2010. All of these numbers do come together to paint a consistent picture. The only problem is that the picture is one of possible devastation.

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