Moody’s Analytics chief economist Mark Zandi told mortgage bankers in Chicago that a complete overhaul is not necessary in order to stabilize house prices, and help the mortgage financing industry work through the glut of foreclosures. He feels that home price drops may persist as the share of distressed sales hovers at one-third or more of transactions, but an equilibrium that signals stability is in sight. Read the full article on HousingZone.com.
