Housing recovery: Where do we stand?

After years of withering on the vine, the nation’s housing market finally is showing signs of new life. Home prices are up while mortgage rates are at historic lows, and bidding wars have broken out in some formerly down-and-out locales.

William Hardin, director of real estate programs and Tibor and Sheila Hollo research fellow at Florida International University in Miami, says that while housing prices will recover in nominal terms, a “real” recovery will take “much longer.” In the interview below, he outlines his thoughts about the challenges facing today’s buyers, sellers and homeowners.

Read more of “Housing recovery: Where do we stand?” by Bankrate.com

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