(Reuters) - The oversupply of existing homes on the market is thwarting
efforts by U.S. home builders to spur demand by cutting prices,
he said, adding that tightened mortgage requirements after the
subprime mortgage crisis were not the chief reason for weakness
in the U.S. housing market.
"The bigger factor to me is how many of the markets have
this huge resale inventory that has to clear and is going to
keep pressure on pricing," Mezger said. "In a lot of the
markets we're in the new median price is below resale."
Read more at Reuters.com Bonds News
efforts by U.S. home builders to spur demand by cutting prices,
he said, adding that tightened mortgage requirements after the
subprime mortgage crisis were not the chief reason for weakness
in the U.S. housing market.
"The bigger factor to me is how many of the markets have
this huge resale inventory that has to clear and is going to
keep pressure on pricing," Mezger said. "In a lot of the
markets we're in the new median price is below resale."
Read more at Reuters.com Bonds News
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