Estate experts in Thomson Reuters, an information company, published the results of its survey that targeted economists from all around the U. S. to give their predictions regarding the annual rate of businesses in the housing market.
The results showed that the economists, as well as investors, forecasted a massive fall in the estate business. Economists also saw it coming that the National Association of Realtors, the largest trade association in North America, will report a decline in the sales rate from 5.66 million in May to 5.18 million in June.
The decline, reports claimed, resulted partially from the increase in the jobless rate and the foreclosures. Some experts attribute the significant decline to the strict lending procedures, which suffocate the investors leading to a "suffocated" housing market.
This fall is the worst in the U. S. history since the past 47 years.
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