Undoubtedly millions of listeners are asking this question after hearing NPR's interview with Nicolas Retsinas this morning. Retsinas is the director of the Joint Center for Housing Studies at Harvard University. The Center gained fame for touting the increases in home ownership over the last decade and dismissing talk of a housing bubble. If Mr. Retsinas' assessment of the future prospects for the housing market are as accurate as they were in the recent past, it's not clear that he has much information to convey.
--Dean Baker [addendum -- thanks to John (below)] More Than a Bubble Keeps Housing Prices Sky-High by Nicolas P. Retsinas May 20, 2004 Reprinted from the Los Angeles Times
