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FHLMC Foreclosure Listings Not Expected To Ease Down Soon in Montana

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By : John Cutts    99 or more times read
FHLMC foreclosure listings and other foreclosed property listings are expected to continue to pose problems on residents of Montana. The continuous poor showing of the state's housing market, along with other factors, is believed to hinder the state from achieving any marked economic recovery.

According to the University of Montana's Bureau of Business and Economic Research and the Montana Chamber Foundation, the state will take a long time before it can pull itself out of the recession. Billings foreclosure listings, as well as foreclosed property listings in other local areas of the state, are expected to continue to post high numbers.

Economists believe that the slow economic recovery of the state is partly due to foreclosure listings in Montana continuing to grind out high numbers of properties. The absence of any significance improvement in the construction and housing markets are slowing economic recovery, economists reveal.

They also added that, aside from properties listings, a flat consumer confidence and declining spending by visitors and tourists are also pulling the state back from achieving a marked economic improvement. Economists predict a long, arduous climb for Montana, with the state probably experiencing years of below-average annual growth.

Initially, economists predict a modest growth for some areas of Montana, regardless of the status of FHLMC foreclosure listings and other foreclosed property listings in the state. However, most of them are revising their earlier projections because, according to them, they were unable to realize how bad the period of 2008-2009 affected the state's economy.

One area that is expected to achieve growth, albeit in a very slow manner, is Silver Bow County. The county is expected to record an economic growth of 0.8% in 2010 and further growth in the coming few years, with the average ranging between 1.7% and 1.8%. Most of the growth will be sustained by the manufacturing, public utility and mining industries. However, the expected statewide pay freeze is expected to impact Montana's economy negatively, economists have added.

The lack of huge construction and real property industries in Silver Bow will be to the advantage of the area, though. Statewide, things will proceed very slowly and FHLMC foreclosure listings and other foreclosure-related problems will continue.

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