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Harvard on Housing

July 9th, 2008

Harvard University’s Joint Center for Housing Studies issued forth out with its one-year snapshot of the housing industry this week and it is cutting. The report, the university’s 20th, calls off this the big housing downturn in a generation.

The report orients the blame firmly at mortgage lenders. It takes down that the number of homeowners blasting out more than half of their income on house payments jumped by 3.8 million to more 15% of all homeowners between 2001 and 2006. Last year the number of foreclosures doubled to 1.3 million as a result

This follows as the S&P/Case-Shiller Home Price Indices covers its April numbers. All 20 of the bigest U.S. markets expressed declines. The fair decline was almost 18%.

“The slump has not heretofore take to the woods its entire course,” the Joint Center’s director closes. Of course, you get into’t want a degree from Harvard to enter that out.

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