Latest Harvard study: uphill climb for housing recovery

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Harvard’s Joint Center for Housing Studies released its 2009 national housing report, which says ‘a sustained recovery for housing still faces an uphill climb’ because of a contracting economy and higher interest rates. Not exactly earth-shaking news from the world’s richest university.
Calculated Risk, a finance and economics blog, dug up previous Joint Center reports and notes its 2005 study basically said a housing bubble was unlikely. The Harvard Center’s 2006 report also said ‘large house price declines appear unlikely for now.’

-- Peter Y. Hong