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Thursday, March 31, 2011

“Housing Is Dead”: Bubble Still Bursting Here and Abroad, Says Harry Dent

Five years after the housing market peaked, conditions are not improving in most areas. The latest data shows housing prices are still down and housing sales are sluggish. New home sales hit a record low in February and the S&P/Case-Shiller home price index suffered it's sixth-consecutive price slump in January.
Unfortunately, the halcyon years of real estate will not return, no matter how much stimulus is pumped into the economy, says Harry Dent founder of HS Dent. Demographics and debt can no longer support it, he argues. "Housing is not coming back. Baby boomers are done buying housing." Simply put, "housing is dead," he declares.

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