What Will The End Of The Housing Boom Look Like?

When America's housing boom ends, it will end gradually, not like the stock market, says a Harvard scholar.
August 29, 2005, 11am PDT | Chris Steins | @urbaninsight
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"Unlike stock prices, the housing market can't collapse in a few days. People can dump their stocks almost instantly, but it often takes months to sell a house.

In past housing busts in California, New England and elsewhere, many owners who couldn't get what they considered a reasonable price yanked their houses off the market. The number of transactions plunged but prices fell only gradually, often over several years."

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Thanks to Chris Steins

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Published on Saturday, August 27, 2005 in Wall St. Journal
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