If prominent housing economist Ken Rosen of Berkeley is right in his prediction, the US housing values will lose another 6-7% in 2009. Housing prices nationwide fell 11.1% in 2008 (BusinessWeek).
According to BusinessWeek:
Rosen, a professor at the University of California at Berkeley, told the Associated Press that the decline in housing prices is only about three-quarters complete, and the cumulative slump could reach 24% this year. To offset such a plunge, Rosen is proposing a foreclosure moratorium to help stabilize the economy. He said as many as 8 million homes …