By John Wasik
Wed Nov 16, 2011 2:30pm EST
(Reuters) – Watching the U.S. home market struggle to rebound is like listening to children in the back of a car. No, we’re not there yet.
The National Association of Realtors reported that ten real estate markets are “leading the nation toward a general recovery and stability of the housing sector,” but myriad problems are going to weigh down the housing market for months to come.
The lingering malaise in the economy has triggered a new wave of defaults and foreclosures. After five straight quarterly drops, foreclosures nationwide shot up 14 percent from the second to third quarter this year, according to data released by Realtytrac, the foreclosure information service (see link.reuters.com/kaw94s), in October.
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