Comments on The Housing Chronicles Blog: Economist Mark Zandi says recession will end this ...

some of them are saying thas it will recover soon,...

2009-08-10T20:31:44.653-07:00

some of them are saying thas it will recover soon, some are not, hard to find the right

This recession is going to be the longest ever. Al...

2009-07-25T17:17:27.040-07:00

This recession is going to be the longest ever. All the elements required for a prosperous economy do not exist.

The strong will prevail.

Unfortunately it's not hard to find economists who...

2009-07-17T11:47:32.789-07:00

Unfortunately it's not hard to find economists who think the recession won't end this year as well.

Zandi says that the recession will be over this ye...

2009-07-17T06:45:30.525-07:00

Zandi says that the recession will be over this year. But doesn't see economic pickup until late 2010 early 2011. So what will be happening in between? 500,000 - 600,000 housing starts a year is not a bad number, it is average. The problem was (and still is) is that there were too many homes being built, with not enough people to fill them. So the Fed lowered interest rates to accomadate. And here we are. There isn't a timetable on the "recession" or when we will start to see some pickup. But what we do know is that there is an abundance of excess housing, that will take AT LEAST a year to be absorbed. Until then, don't count on anything being back to "normal" (whatever that is).