The Harvard Joint Center for Housing Studies recently released its
annual State of the Nation's Housing report for 2007. It is
dismal reading.
While it states that the longer-term outlook for housing is (more)
upbeat, the length and depth of the current correction will depend on the
course of employment growth and interest rates, as well as the speed with
which builders pare down excess supply.
That's the good news. The flip side is that basic housing
affordability remains a major problem.
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