In a Telegram & Gazette article about the country’s consistently high foreclosure rates, Katherine A. Kiel, chair of the economics department at the College of the Holy Cross, is cautiously optimistic about the long-term impact of this trend.
“It [the foreclosure backlog] may slow the recovery,” she said, “but I don’t think it’s going to turn it one way or the other. It may put a drag on the economy, but it may help house prices drop to where the market comes back.”
This “Holy Cross in the News” item is by Sara Bovat ’14.