Post by red on Jan 8, 2008 21:58:06 GMT -8
Housing downturn worse than thought nationwide. I'm sure that some areas will do better than others. Hopefully Azusa will be ok, especially if the quality of life in the city continues to improve, because Azusa did not seem to increase as much as many of the other cities in the area have. I know some areas increased over 700% over the last 5 years, especially along the beach cities. I would guess that these areas have more room to move because of it.
The head of Fannie Mae, a government-sponsored mortgage lender, predicted the housing market would weaken through 2009 and said a turnaround wasn't likely until 2010.
news.yahoo.com/s/ap/housing_outlook;_ylt=AtQbnAcbVdJmrYTL308eD3kDW7oF