Inman News points to a Harvard report which characterizes the current housing slump as the worst in 50 years.
I don’t know what was so bad about the market in the late 50’s. My parents bought their first house in 1957 for $12,000 and the Ike years were known for their relative peace and prosperity, but that is hardly worth researching. In the here and now, it is bad. The study also says that it will get worse before we see a recovery. I agree.
The recovery, when it does come, will be fueled by population growth. Thanks to immigration and our better-than replacement birth rate, we’ll grow out of it.