Editor's note: With the end of a year marked by weakening housing markets drawing to a close, the question on many industry professionals' minds is "When will this market hit bottom and when will it start to recover?" In this three-part series, Inman News seeks insight from housing analysts who go deep to paint a picture of housing in 2008, compares this downturn to past cycles and seeks input from agents on how they are reacting with their business plans. For economist Dean Baker, the next U.S. economic recession is more a matter of when than if. "I don't know how we avoid a recession," said Baker, co-director of the Center for Economic and Policy Research, a research and public education organization. While Baker is less optimistic about the fate of the housing market and U.S. economy th...
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