EPISODE · Aug 25, 2008 · 4 MIN
Dean Baker: "Unrealistic" to think housing will recover before mid-2009
from MarketWatch Real Estate Round-up · host MarketWatch.com
Existing home sales rose last month partly driven by "distressed sales" on foreclosed properties. So says housing analyst Dean Baker at the Center for Economic and Policy Research. He also tells John Wordock inventories have spiked because investors and speculators are now trying to dump their condos.
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Dean Baker: "Unrealistic" to think housing will recover before mid-2009
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