Appeared on September 8, 2009
David Becher, PhD, associate professor of finance at LeBow College of Business, did a business update about the current mortgage crisis that aired on WMGK-FM. “The housing market may be bottoming, but concerns remain. Waiting sellers may flood the markets and overwhelm a weak rebound. As mortgage rates reset higher, more Americans may be unable to afford their homes,” Becher said.
“Millions owe more than their house is worth; this won’t change unless prices rise dramatically. While encouraging signs exist in the housing market, we are not out of the water yet.”