ECM Buyers' Guide

Housing Recovery Delayed Until Mid-2010, Says Portland Cement Association (PCA)

According to a recent economic research report from the Portland Cement Association (PCA), Skokie, Ill., the conditions needed for a recovery in housing starts activity to begin will not be in place until mid-2010. Although resets of traditional sub-prime mortgages are expected to reach an apex in mid-2009, exotic mortgages such as Alt-A and option adjustable, will experience a dramatic increase in resets mid-2009 through mid-2010, according to the report. This second wave of toxic resets, says Edward J. Sullivan, PCA chief economist, will accelerate foreclosure rates and add to the large number of foreclosed homes ...

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