Harvard Releases State of the Nation’s Housing Report
The U.S. housing recovery should regain its footing, but also faces a number of challenges, according to The State of the Nation’s Housing report released by the Joint Center for Housing Studies (JCHS) of Harvard University. Tight credit, still elevated unemployment, and mounting student loan debt among young Americans are moderating growth and keeping millennials and other first-time homebuyers out of the market.
“The housing recovery is following the path of the broader economy,” said Chris Herbert, research director at JCHS. “As long as the economy remains on the path of slow, but steady improvement, housing should follow suit.”