Haas Newsroom

 

January 13, 2010

 

Haas School of Business Media Contact:

 

Pamela Tom                                        Ute Frey
(510) 642-2734                                   (510) 642-0342  
ptom@haas.berkeley.edu                     frey@haas.berkeley.edu

 

2010: The US Housing, Mortgage and Commercial Real Estate Markets

 

Fisher Center Chair Ken Rosen discusses his policy and reform proposals at the Financial Crisis Inquiry Commission's (FCIC) first public hearing

 

Washington D.C. — Real estate expert Kenneth Rosen testified before the Financial Crisis Inquiry Commission (FCIC) this morning and said the current US housing market will continue a slow recovery of three to four years. Rosen is chair of the Fisher Center for Real Estate and Urban Economics at the University of California, Berkeley's Haas School of Business. The FCIC is a bi-partisan, 10-member panel established by Congress to examine the causes of the financial crisis. Rosen presented the commission with several policy and reform proposals to combat the crisis.

 

"The embryonic recovery in housing has been highly dependent on massive federal government intervention rather than an organic increase in buyer demand," said Rosen. However, he notes the termination of several federal programs will stunt the market's recovery. His recommendations included:

 

 

On the commercial real estate front, Rosen said vacancy rates and falling rents continue to dominate the market. He proposed:

 

 

Read Kenneth Rosen's entire assessment and proposal of the 2010 real estate market.

 

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