Tuesday, March 22, 2011
Wisconsin Real Estate Viewpoint Blog
The Wall Street Journal
today published the results of a survey
of economists and housing analysts conducted earlier this month by MacroMarkets. Among those surveyed was Abdullah Yavas
, professor of real estate and urban land economics at the Wisconsin School of Business.
The quarterly survey shows how attitudes for a housing recovery have soured: Last June, economists expected prices would gain by 1.3% this year. “The sentiment among our expert panel regarding the U.S. housing market outlook continues to deteriorate,” said Robert Shiller, the Yale University housing economist who co-founded MacroMarkets.
Around one-third of panelists expect home prices to increase in 2011. Bill Cheney, chief economist of John Hancock Financial, and Abdullah Yavas, and professor of real estate at the University of Wisconsin, are calling for a 3% annual gain.
"No Home-Price Recovery This Year
," WSJ, 3/22/11