Housing Rebound in 2008?!

Housing rebound projected for 2008, from the Business Journal of Phoenix, reports that the Greater Phoenix Blue Chip real estate panel is forecasting a 13 percent drop in single-family permits for 2007, to 37,000 permits. But they are predicting a rebound in 2008 to 40,000 permits, a 10 percent increase over 2007 levels. However there is some uncertainty to the forecast, writes topics editor Elliott Pollack. He notes a wide spread in predictions among panelists from a low of 27,000 permits for 2007 to a high of 48,000. "The single-family residential market weakened considerably late in 2006 but recently picked up again," Pollack wrote. "It remains to be seen if this is an aberration or if the worst is over", he added.

http://phoenix.bizjournals.com/phoenix/stories/2007/06/18/daily37.html?t=printable