- Jun 3, 2009
- Reaction score
- Los Angeles, CA
- Political Leaning
International Monetary Fund Warns of Housing Double-Dip Risk « HousingWire
Come on, who didn't see this coming? Everyone knew this would happen once the new housing tax credit expired.While IMF expects US gross domestic product (GDP) growth of 3.25% in 2010 and 3% in 2011, unemployment is projected to remain above 9%.
IMF warned in a statement that "the backlog of foreclosures and high levels of negative equity, combined with elevated unemployment, pose risks of a double dip in housing."