First-Time Home Buyers and Boomers Feel Effects of Housing Downturn Most

Although the situation is open to interpretation as well as change, there are growing concerns that the effects of this economic downturn could have a long-lasting effect on the housing market.

A study by the Mortgage Bankers Association, conducted by Kentucky economics professor Joe Peek, concludes that “the current financial crisis and recession exceeded the devastation created by other post-World War II recessions.”

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