Context:
"People are moving out of Mom and Dad's basement finally, but they are renting or buying apartments rather than homes," said Jeffrey Greenberg, an economist with Nomura Securities International. "You have to assume another three to five years before the whole housing market recovers because of the enormous foreclosure overhang."
I am not familiar with the term overhang used this way. An overhang is found on a roof at its edge. It helps the rain move off the roof. Perhaps it's a metaphor to mean the last edge of the realestate crash.
. The article is not well written IMHO. Is it a translation?
I see that it is overhang is used twice. See my edited response above.
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oristarA
1
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Sat 22 Oct, 2011 06:31 am
@PUNKEY,
PUNKEY wrote:
I would think they meant "hangover"
I am not familiar with the term overhang used this way. An overhang is found on a roof at its edge. It helps the rain move off the roof. Perhaps it's a metaphor to mean the last edge of the realestate crash.
. The article is not well written IMHO. Is it a translation?
I believe it is not a translation. To inquire the root cause there, I venture to think the writer is not very familiar with English.
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engineer Selected Answer
2
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Sat 22 Oct, 2011 06:32 am
@oristarA,
I think he means to use it as something hanging over your head. In this case, the foreclosure backlog is something that "hangs over" the market retarding its recovery.
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