Harvard Housing Study Predicts More Pain For Housing Markets
A Harvard Joint Center for Housing Studies predicts the housing slump will be prolonged and that it is the worst since the Great Depression. The report expects that a weak job market will push homeowners on the edge into foreclosure and keep buyers away.
There are some good points to the study but I truly think that we have seen the worst. We will probably never see the loose credit that fueled the housing market to overbuild, but as prices come into the realm of buyers feeling like they have a deal, deals will be made.
The center releases its “State of the Nation’s Housing” report each year and the 2008 edition gave a grim prognosis for housing markets throughout the country.
Local markets are dealing with drops in housing starts, new-home sales and existing-home sales — corrections that are rivaling the deepest slowdowns since the World War II era, the center reported. On top of that, the fall in home prices and the rise in mortgage defaults are the worst on record since the 1960s and 1970s. All this adds up to a downturn that is “the most severe that we have seen,” said Mr. Retsinas. via WSJ.com.
My mom told me to put the statue in the ground, just seems wrong to me but I did it. ...
What about RE/MAX Commercial? Where this classification came from?
I am pretty sure RE/MAX Commercial in volume sales must be above ...
Well Tom, once again you have said it much better than I could have. Unfortunately the folks at Move, ...
It certainly does not bode well for a fast recovery in the economic climate. This will affect all real estate ...
I HAVE 25 YEARS EXPERIENCE IN TELECOMMUNICATIONS..HOW DO I APPLY AT KAI. 
Definitely not a fan of Move Inc.!!! 
A lot of you really need to go back to kindergarten and learn to spell correctly. If you cannot spell ...
In 2008, there was an extension to push first-time home buyers to purchase their homes quickly since the program did ...
I also need HELP and don't know what to do about my problem. I have a garden apartment off ...
I have the same situation. I sold my home in July and am scheduled to to close in a few ...
Comment by Mark McGlothlin on 25 June 2008:
My team and I have plowed through the Harvard data too (yawn, but they do have very nice graphics). We find the most interesting aspect of the recent CSI and Harvard statements to be the media reaction to them. Doom and gloom is the word of the day, though our research confirms there are markets around the country with surprisingly sound fundamentals even in these “dark days”. Our advice – take a deep breath, roll up your sleeves, and do some digging to find the strong markets among the sea of weak ones.
Comment by Caleb Mardini on 25 June 2008:
The problem is much deeper than that of deals IMHO. One major factor that will not let up is the simple fact that the credit markets won’t be available for any sort of “turn around” for some time.