Wednesday, February 20, 2008

Home Prices to Fall 20%, U.S. in Recession Now

A rapidly deteriorating U.S. economy will cause home prices to drop by 20 percent peak-to-trough, a leading economist said on Wednesday.

Mark Zandi, chief economist and co-founder of Moody's Economy.com, said he also expects a recession in the first half of this year.


And a depression the second half.

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