The real story on real estate

Visit BusinessWeek Online -- Hot Property

Harvard on Housing

Posted on June 24, 2008

Harvard University s Joint Center for Housing Studies came out with its annual snapshot of the housing industry this week and it is bleak. The report, the university s 20th, calls this the worst housing downturn in a generation.The report points the blame firmly at mortgage lenders. It notes that the number of homeowners shelling out more than half of their income on house payments jumped by 3.8 million to more 15% of all homeowners between 2001 and 2006. Last year the number of foreclosures doubled to 1.3 million as a resultThis comes as the S&P/Case-Shiller Home Price Indices reports it...

Original article link


foreclosures , housing