If you are interested in the current housing market and wish to read more, an excellent place to look is Harvard’s Joint Center for Housing Studies, which just this week came out with the best study that I have seen. The study says that the housing market has not been this bad in fifty years. Again, the report addresses the national problem.
It is a little stunning to see the map showing areas where permitting is down by more than 50%. Nonetheless the report notes the historic ability of this market to spring back and lead economic recovery. It says the forecast over the long term remains very good.