The Idiots At Harvard Look At Housing

247wallst — Mon, 23 Jun 2008 04:10:16 +0000

Researchers at Harvard have looked at the housing crisis and say that it will be bad, very bad. According to Reuters, "A two-year home price drop is eating into housing wealth, curbing consumer spending and slicing away economic growth. This is unlikely to change until potential home buyers are convinced that prices have stopped tumbling, the study found."

The study confirms what most economists and homeowners already know. Don’t buy a house yet. The market is still falling. Don’t sell a house. No one wants it.

Douglas A. McIntyre

24/7 Wall St. » Harvard

The Idiots At Harvard Look At Housing