Inman News posted an article referring to the Harvard University "State of the Nation's Housing" report. The conclusion of the scholars at Harvard? Housing recovery depends upon demand. Duh! I have said it before. Lenn Harley has said it, as well as many others. I wonder how much was paid for this study that states the obvious.
We have know the mechanism of supply and demand since Adam Smith wrote "The Wealth of Nations", first published in 1776. No governmental support of the housing market will overcome the basic laws of economics.
To read the report, CLICK HERE.