Housing Slump Not Over, Mortgage-Bond Investors Say in Survey
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Mortgage-bond investors aren’t convinced that the U.S. housing bust is over, according to a survey by JPMorgan Chase & Co.
Only 34 percent of respondents in a poll last week agreed that “home prices have bottomed nationally,” with 11 percent expecting values to fall an additional 5 percent or more, according to a July 27 report by the bank’s analysts. A total of 56 percent said prices will decline less than 5 percent.