Harvard Misses the Housing Bust Again: How Harvard Missed the Real Estate Bubble Bursting.
I’ve been digging through the 44 page State of the Nation’s Housing report put out by the Joint Center for Housing Studies at Harvard University. The report is chock full of excellent data yet once again they miss on a few of their forecasts. I’ll get to the data in the current report later but let us look at what the center director Nicolas Retsinas had to say less than two years ago in September of 2006. The reason it is important to dig deep into this forecasting is that so much credence is placed on these reports from many people in our country.
“September 24, 2006
The Providence Sunday Journal
HOUSING BUST AHEAD.” The headline hints of catastrophe: a dot-com repeat, a bubble bursting, an economic apocalypse. Cassandra, though, can stop wailing: the expected price corrections mark a slowing in the rate of increase — not a precipitous […]
Original post by drhousingbubble
