New ways of viewing the housing meltdown

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On a more pessimistic note, Norris threw cold water on real estate industry expectation that there is pent up demand from home buyers just waiting for the best time to jump into the market. Not only did the home buying fervor of a few years back steal home sales from the future, he said, but the large number of people who now owe more money on their homes than they could sell them for are in no position to move anywhere and become new buyers.

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