No Rebound in 2011 as the Housing Market Continues to Rot
November 18, 2010 at 05:00 AM EST
The year of 2010 saw very little improvement in the housing sector, and that's not likely to change in 2011. The industry's weaknesses - high unemployment, tight credit, ineffectual government programs, soaring inventories, plunging prices, and so on - are simply too gaping to be resolved by next year. Even the normally ultra-optimistic National Association of Realtors (NAR) came out of its annual conference in New Orleans in early November with a frown on its face, predicting that, "nationwide, homeowners can expect little, if any, increase in home values in 2011." The real estate research and online brokerage firm Zillow agreed, issuing a report on Nov. 10 noting that U.S. home values fell by 4.3% in the third quarter and chances for improvement over the winter are slim.