Harvard's 'The State of the Nation’s Housing' Study is Funded by The Housing Industrial Complex

Harvard University's Joint Center for Housing Studies released their annual 'The State of the Nation's Housing' study which stated in the executive summary:

The housing boom came under increasing pressure in 2005. With interest rates rising, builders in many states responded to slower sales and larger inventories by scaling back on production. Meanwhile, the surge in energy costs hit household budgets just as higher interest rates started to crimp the spending of homeowners with adjustable mortgages.

Nevertheless, the housing sector continues to benefit from solid job and household growth, recovering rental markets, and strong home price appreciation. As long as these positive forces remain in place, the current slowdown should be moderate.

Reporting on the study, Reuters adds " Major house-price declines seldom occur without "severe" overbuilding and major job losses, or a combination of "heavy" overbuilding and modest job losses, according to the study" The Housing Bubble Blog also reports about the housing study.

Housing Panic rightly points out that Harvard's Joint Center for Housing Studies is in large part funded by the housing industrial complex:

HP'er Panicearly did some easy digging, and yup, Harvard's Joint Center for Housing Studies, who issued the report? Bought and sold by every major member of the corrupt REIC. Harvard is their bitch, and the report is a big wet kiss to their donors. Don't worry, masses, there is no bubble, there is no meltdown underway. Support our sponsors - Beazer, Centex, Countrywide, the corrupt Fannie Mae, etc etc etc.

It is a sad state of affairs. If the report had warned of a housing bubble would the Joint Center for Housing Studies still get as much funding from the housing industrial complex? Doubtful.