SignOnSanDiego.com > News > Business -- Harvard report: Housing outlook remains bleak
In a grim report on the weakened state of the housing industry, Harvard
University says the
United States is caught in a real estate market
downturn “that is shaping up to be the worst
in a generation.”
The five sharpest drops in metropolitan area building permitting from
2005 to 2007 were in
Florida. Florida tops the list of states with the
deepest cutbacks at 64 percent, followed by
Michigan at 61 percent and
Minnesota at 51 percent.
In a grim report on the weakened state of the housing industry, Harvard
University says the
United States is caught in a real estate market
downturn “that is shaping up to be the worst
in a generation.”
The five sharpest drops in metropolitan area building permitting from
2005 to 2007 were in
Florida. Florida tops the list of states with the
deepest cutbacks at 64 percent, followed by
Michigan at 61 percent and
Minnesota at 51 percent.
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