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Article: Are we there yet? There is still plenty of road left to travel before reaching the end of the housing market downturn.
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- Units
- Article date:
- July 1, 2007
- Author:
CopyrightCOPYRIGHT 2007 National Apartment Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The long drive from Pennsylvania to Texas gives a person plenty of time for thought, particularly when it comes to sorting out complicated subjects such as the current housing market downturn.
This evolving economic situation is a lot like making a 25-hour drive--the driver knows it will end at some point, but after about 18 hours or so, the person behind the wheel can lose sight of that fact and begin to wonder if and when he or she will reach the end.
Some apartment owners and economists are not unlike the sleeping passengers who might be along for such a drive, who, at every stop, suddenly awake and ask, "Are we there yet?"
Several of today's ...