Even after six years of a housing recession, the sector is comatose. With demand for new homes having fallen by 80 percent relative to the peak, the downward price adjustment is likely to continue in 2012 as the supply of new and existing homes continues to exceed demand. - in Project Syndicate
Related, Lennar (LEN), KB Homes (KBH), D.R. Horton (DHI), Toll Brothers (TOL), Masco (MAS)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
