WASHINGTON — CUNA Senior Economist Mike Schenk was noted in a recent New York Times article on plummeting housing prices.
"Anybody that's expecting a turnaround in housing anytime soon is going to be disappointed," Schenk was quoted as saying in the Sept. 27 edition. "It's going to be a long, slow process."
The Times reported that August new home sales fell to their lowest rate in more than seven years. The article also cited Los Angeles-based KB Home, which took a $35.6 million hit in the third quarter.
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