Quoted: University of Wisconsin-Madison professor Stephen Malpezzi said that house prices could stabilize by this summer and a broader recovery could follow. But Malpezzi said it could be the summer of 2010 before things fully turn around.
“Who knows,” said James Johannes, associate dean for executive education at UW-Madison. “November 19, 2009 — that is my over/under date on the end of the recession, and if I am wrong the reporters do not have to pay for me for my forecast.”
Jim Seward, associate professor of finance, investment and banking at the UW-Madison School of Business simply said, “We’ll know when we know.”
Tim Riddiough, director at the UW-Madison Center for Real Estate said that, realistically, to get the economy back on track, it’s going to take the stabilization of the banking industry and the bottoming out of the real estate market.