"The high foreclosure rate has hampered the economic recovery," Alexander said. Currently, he said there's a 16-month supply of available homes, and in some areas, such as Florida, there's a 22- to 23-month supply.

Alexander predicts the U.S. economy will grow at 2.25 percent to 2.5 percent a year for the next three to five years with interest rates gradually rising through mid-2012.

Adding to the U.S. economic uncertainty, says Alexander, is a lack of confidence by both consumers and business operators. "We don't know how much the consumer psyche and the business psyche have contributed to this," he said.

- Jim McConville

 

First « 1 2 » Next