Housing Crash Deepens in 2008 as Everyone (but*) See Record Drop

Via Bloomberg:

Everyone from mortgage-finance company Fannie Mae to Lehman Brothers Holdings Inc. expects declines next year. Existing home sales will drop 12 percent and existing home prices will fall 4.5 percent, Washington-based Fannie Mae says. Lehman analysts estimate almost 1 million mortgage loans will default in 2008, up from about 300,000 this year.

That would be everyone but* the National Association of Realtors.