Housing Bust is Over
Experts believe worst of housing bust over: WSJ survey
By Gabriel Madway
Last Update: 2:37 PM ET Nov 20, 2006
SAN FRANCISCO (MarketWatch) -- Nearly two-thirds of the economists polled in the Wall Street Journal's latest forecasting survey believe the worst of the housing bust is over, according to a report posted Monday at WSJ.com. However, the 49 economists responding to the survey expect home prices to rise 2.8% this year and to fall by 0.5% next year. In addition, the average economists' estimate predicted gross domestic product growth at a 2.3% in the fourth quarter. According to the survey, the economists expect GDP growth to remain at that rate through the first half of 2007 and to accelerate later in the year. The economists also predicted 107,000 new jobs a months over the next year.
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