Commentary: Declines in home prices are likely to continue

08/16/2010 | Bloomberg

Michael Carliner, a consultant and research affiliate at the Harvard University Joint Center for Housing Studies, explains how the current economic recovery differs from previous recoveries in that the housing market is not leading the economic expansion, but is likely hindering it. Carliner writes that there is a lot of pessimism about the housing market and that positive figures about the market are needed to turn around the outlook. "More likely, market conditions will reinforce expectations of further price declines," he writes.

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