Recession could run deep, economist cautions

Industry analysts cite declining dollar, oil spikes and foreclosures

SAN FRANCISCO — It’s clear the recession is here but how deep it goes is still an unknown, said Kenneth T. Rosen, chairman for the Fisher Center for Real Estate & Urban Economics at University of California, Berkeley.

"There is a great risk here. The risk here is that we could have a deep recession," said Rosen, speaking Tuesday during an annual Fisher Center Real Estate Conference in San Francisco.