Housing Wire: Trapped: Mobility among homeowners slows April 03,2012

Submitted by lusk-admin on Tue, 07/10/2012 - 16:56

What's not appreciated "is the extent to which people are going to hold onto their homes longer," said Gary Painter, a real estate professor at the University of Southern California. Lower inventory levels reflect as much, which he said further limits housing choices for repeat buyers, who unlikely to purchase foreclosed properties.

"I think a lot of people are just waiting to see how the market will recover," Painter said.

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