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HKS in the News June 14, 2012

1. Housing prices may soon start to increase ; Harvard center forecasts uptick across country (Belsky) The Boston Globe

2. Good luck attracting talent if young workers can’t afford homes in Mass. (Glaeser) The Boston Globe

3. Fears of migration add to Europe’s woes (Kayyem) The Boston Globe


Housing prices may soon start to increase ; Harvard center forecasts uptick across country

The Boston Globe

June 14

Quoted: Eric Belsky, The Joint Center for Housing Studies

Topic: The Joint Center for Housing Studies’ The State of the Nation’s Housing report

The Joint Center for Housing Studies’ research was also cited inThe Washington Times and Bloomberg News

The US housing market, and the Boston area in particular, have likely reached bottom and will slowly start to recover this year, according to Harvard University researchers who are scheduled to release an annual housing report Thursday.

More than six years after the country's housing market pitched into a deep slide, Harvard's Joint Center for Housing Studies said a recent increase in home sales, coupled with low -inventories of available properties and rising rents point to a turnaround in housing prices.

"There are lots of positive indicators here," said Eric S. Belsky, managing director of the housing center. "A floor is beginning to form under home prices."

The center's 2012 report, scheduled to be released Thursday at the Ford Foundation in New York City, contrasts with the forecast it released last year in which Harvard accurately predicted the US housing market would remain sluggish through 2011 as potential buyers remained on the sidelines out of fear prices would continue to fall and the economy still struggled. …

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Good luck attracting talent if young workers can’t afford homes in Mass.

The Boston Globe

June 14

Commentary by: Edward Glaeser, Taubman Center, Rappaport Institute

Topic: High housing costs in Massachusetts

Many people in Massachusetts are talking about the need to attract and retain young workers, but we are hardly sending out the welcome wagon. As the Globe reported recently, the Census Bureau estimates that the number of Massachusetts homeowners between ages 25 and 34 dropped by nearly 32,000 - or 19 percent - between 2005 and 2010. This massive decline reminds us that, despite our abundance of colleges, the Commonwealth remains inhospitable to young talent. I agree with those who would like less regulation of nightclubs and food trucks, but the larger problem is over- regulation of new housing, especially in suburbs near the urban core.

The Commonwealth's economy is doing reasonably well, which should make it a magnet for the skilled and ambitious. In April, our unemployment rate was down to 6.3 percent. Our state's gross domestic product increased in real terms by 6.5 percent between 2009 and 2011, leading the Northeast. According to the Case-Shiller Housing Price Index, the Boston area's housing prices have only declined by 17 percent since their December 2005 peak, which represents remarkable resiliency during an historic housing collapse. …

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Fears of migration add to Europe’s woes

The Boston Globe

June 14

Commentary by: Juliette Kayyem, Belfer Center

Topic: The European economic crisis

A paradox about globalization - that energetic, free-wheeling word to describe the shared experience of people, commerce, and ideas across borders - is that its success is not measured by movement, but by inertia. If the benefits of greater "one world" integration are tangible, then people will stay put. They will not vote with their feet; they will grab an armchair.

Today, the European community, and the world, grow ever more panicked over the future of their union and its debt crises. This weekend, Greece heads to elections whose results will determine whether Europe's bailout has any democratic support. The primary reason for this sense of urgency and unified effort is money; Greece, Italy, and Spain are all too big to fail. …

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This selection of media appearances is compiled by the Office of Communications and Public Affairs.

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