A special team of economists using a variety of forecasting models have concluded that any future declines in housing prices will likely remain small. The economists include professors from Columbia University and the Center for Real Estate at Wichita State University, Kansas.
What led them to this conclusion?
The housing price index of Standard & Poor's/Case-Shiller gave some extreme figures, but the economists called this index faulty as it excluded data from 13 states and only gave partial coverage of 29 others. Therefore, an accurate reflection of middle-market home ownership could not be obtained using their model.
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