Study: Housing Collapse Steeper Than During Great Depression

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 Wednesday, predicting “a couple years of pretty much no recovery whatsoever.” 



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