Bloomberg discusses the schism in views on US residential real estate I am obviously biased, but I cannot believe there is much of a debate in this:
Dean Maki, chief U.S. economist at Barclays Capital, says the worst is over for the U.S. housing sector. Dean Baker, co-director of the Center for Economic and Policy Research, expects another painful decline.
They reflect an almost even split among forecasters on the outlook for residential real estate, and whichever side turns out to be right will have made a call on more than just home prices. Housing will play a crucial role in the direction of the nation’s economy and global financial markets, just as it triggered a two-year recession that erased more than 8 million U.S. jobs and $37 trillion from world stock markets
Dean Maki, chief U.S. economist at Barclays Capital
Maury Harris, chief economist of UBS Securities
Joseph LaVorgna, chief U.S. economist at Deutsche Bank Securities
Dean Baker, co-director of the Center for Economic and Policy Research
Meredith Whitney, founder of Meredith Whitney Advisory Group
Joshua Shapiro, chief U.S. economist for MFR Inc.
Nariman Behravesh, chief economist of IHS Global Insight