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Rising U.S. mortgage defaults have sent credit markets into a tailspin, (...) economies worldwide. A majority of economists polled said finding a floor for house prices is an essential condition for ending the financial crisis sanitary ware.

In order for prices to recover, the glut of unsold homes needs to be whittled down further, analysts (...) if not all, the rise in sales is due to vulture investors buying cheap foreclosed homes, but all sales reduce (...) said Ian (...) the chief U.S. economist at High Frequency Economics in Valhalla, New (...) this continues, people will stop expecting further price falls and activity will start to (...) Yun, the chief economist for the (...) trade group, also pointed to a rise in (...) and other (...) sales in regions hard-hit by the housing downturn.- (...)