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Carrington's Sharga: We are not creating another housing
The housing market is not in the midst of another bubble with
inventory levels expected to rise in the near future, suggested
Rick Sharga, executive vice president with Carrington Mortgage
Holdings. Sharga made those assertions while speaking at the REOMAC
2013 Summit & Expo in Dallas on Monday as keynote speaker.
Sharga began by warning the crowd that things could get worse
before they get better.
However, with pending sales, existing home sales, new home sales
and housing starts up, while delinquent sales continue dropping,
the recovery seems very real, he said. But Sharga reminded the
crowd "this is not a 2005 market."
Regarding existing home sales, Sharga added that "we're now at
the highest point we've been at since 2006, but we're not yet at
2006 numbers." Read