Tuesday, March 11, 2008

Is State Crawling Out Of Housing Slump?

National Expert Says Region Moving In Positive Direction
UPDATED: 6:53 pm EST March 3, 2008

BOSTON -- A national real estate expert said Monday that the Massachusetts region could soon start moving in a positive direction. The chief economist for the National Association of Realtors offered a ray of sunshine to his New England members.
"The worst in the sub-prime foreclosures is probably peaking at this point, but most of the mortgages -- 90 percent of the homeowners -- are not exposed to sub-prime loans. A vast number of neighborhoods are doing fine," said Lawrence Yun, of the National Association of Realtors.

Massachusetts is just below the national average when it comes to foreclosures due to sub-prime mortgages.

Read the full story at The Boston Channel

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