July 15, 2024

Housing Prices 2009 ForecastKen Rosen a prominent housing economist and professor at the University of California at Berkeley belives home prices could drop an additional 6% to 7% this year. Rosen thinks housing prices are only about three-quarters complete.

Rosen said: "I worry about the cumulative decline of all the job losses leading to a second wave of foreclosures. So we have to stop this downward spiral."

Dean Baker, co-founder of the Center for Economic & Policy Research in Washington, D.C., said: "All the evidence is showing prices dropping at a more rapid rate, it's not a good time for people to buy houses when they're losing jobs at this rate."

 

 

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