Lawrence Yun, chief economist of the National Association of Realtors and a leading voice of optimism about the real estate industry, said there’s a burgeoning recovery, but apologized for being clearly wrong in denying a housing bubble. He spoke yesterday morning in Coral Gables at the 2009 Real Estate Congress, hosted by the Realtor Association of Greater Miami and the Beaches. He said foreclosures will keep rising, and commercial mortgage activity is absolutely dead for the time being.
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