by Calculated Risk on 4/23/2007 07:19:00 PM

From Reuters: US new home market may take til 2009 to rebound-S&P (hat tip Roy)

"We do not expect to see a recovery for most rated home builders until 2008, under the best of circumstances," the [Standard & Poor's] rating agency said in a research note. "In fact, a rebound could easily slide into 2009 if a subprime contagion spreads to the Alt-A and prime products."