Double-Dip Recession? 1-in-4 Chance for House Market

Before you go, we thought you'd like these...
Before you go close icon
One-in-four chance of a double-dip recession occurring.Several southern and Midwestern states at riskHow do you like these odds? A new report from Moody's predicts a one-in-four chance of the national housing market lapsing into a double-dip recession. The author of the report, economist Andrew Gledhill, identifies 22 cities that are most likely to take another nosedive. While the cities are spread across the U.S., more than half are located in Southern states, and five are in the Midwest. Among the cities mentioned in the report are Missoula, Mont., Salem, Ore., and Little Rock, Ark. Reasons cited for the decline include sluggish job growth, and a dropoff in several industrial markets. If hiring doesn't pick up soon, Gledhill predicts, the number of cities threatened could jump to triple-digits. Hoping for upbeat news after Tuesday's Future of Housing Finance Conference? Don't bet on it.
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.
Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

Find a New Home

Powered by Zillow

From Our Partners