Housing on “path to recovery” written by Alan Zibel

Fewer people falling behind on home loans

Chico, ER February 20, 2010

The  end of  foreclosure crisis is finally in sight. For the first time in almost 3 years, the number of homeowners falling behind on their loans is declining.  The drop means the number of people losing their homes will start to fall. But some pain from the crisis sure to persist. Because millions of people are already in foreclosure, deeply discounted houses will put pressure on home prices for years. “Housing is on a path to recovery,” said Mike Larson, a real esatate analyst with Weisse Research.  “It’s going to be a very, long gradual process.”