Harvard’s Joint Center for Housing Studies says that we may have ups and downs but the long-term overall housing picture looks fine. “Demographic changes and population expansion will help keep home demand - and prices - healthy. The number of homes needed to meet demand in the next 10 years will likely exceed the 18.1 million units built from 1995 to 2004.”

Well this is nice to know. The long term housing market should be here to stay because of natural population growth, aging baby boomers buying second homes, and minority ownership increasing.