'When Will Housing Recover?': Authors' Response

摘要

We thank Jerry Tempelman for his comment on our article "When Will Housing Recover?" (March/ April 2009). Our article made three key points:rn1. On the basis of affordability, the recent sharp decline in Case-Shiller index markets was apt to continue beyond the end of 2008.rn2. Intense focus on these key markets obscures the fact that many regional housing markets remain strong.rn3. The overall decline in U.S. housing prices should soon begin to recover.