Study: Housing Collapse Steeper Than During Great DepressionBreaking News
The author of a study claiming the U.S. housing collapse is now worse than during the Great Depression warned Wednesday that the market likely will continue to fall for the rest of the year before going stagnant.
Paul Dales, senior U.S. economist for Capital Economics, predicted home prices would fall another 3 percent over the rest of 2011 before potentially hitting bottom.
"Even when that happens, I don't think we're going to see any significant or sustained rises," he told FoxNews.com Wednesday, predicting "a couple years of pretty much no recovery whatsoever."
The bleak prediction comes after he released a report estimating that since the collapse began from the pricing peak of 2006, prices have fallen 33 percent -- more than the 31 percent dive recorded between the 1920s and 1930s....
comments powered by Disqus
- ‘No Vacancies’ for Blacks: How Donald Trump Got His Start, and Was First Accused of Bias
- New Yorker profiles activist who's drawing attention to lynchings
- Wisconsin GOP senator wants to replace history professors with Ken Burns videos
- UT removes Confederate inscription that it previously said would stay
- The man behind the Smithsonian’s new African-American history museum
- Some Ohio University professors ditch the textbooks, and the prices
- Renowned Israeli Holocaust Historian: ‘If I Were a British Jew, I’d Be Worried’
- Heather Ann Thompson pries loose the long-kept secrets of Attica in her new book
- Lonnie Bunch remembers his first day on the job as director of the new black history museum
- Speaker Ryan loves pseudo-historian David Barton