Dour predictions about the housing market aren’t the norm anymore, as many economists have grown optimistic that home prices will begin rebounding strongly next year.
But International Monetary Fund economists Prakash Loungani has found plenty of reasons to remain glum.
Loungani, at a National Economists Club luncheon in Washington Thursday, presented his analysis of housing busts since 1970 in the countries that make up the Organization for Economic Cooperation and Development. His prediction: Home prices will fall much farther and for much longer.
via IMF Economist Argues Home Prices Still Have Far To Fall – Real Time Economics – WSJ.
