According to recent article by Los Angeles Times, Peter Y. Hong (9/27/09)
"Over the next few decades, "We can expect a gradual rise [in home values], but not the bonanza we've become accustomed to between the end of World War II and 2006, and especially the last 20 years," says Robert Reich, public policy professor at UC Berkeley and U.S. Labor secretary in the Clinton administration.
The reasons cited for the change include the absence of pent-up demand that followed the Great Depression and World War II and the aging of the baby boomers who carried that housing demand forward, says housing consultant Thomas Lawler."
This opinion contradicts the National Association of Realtors general housing outlook which cites the increase in population due to birth rates and immigration are creating pent-up demand which is part of the recent surge in buyer activity.
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