Forecast: Recovery a long, hard slog

UCLA economists say homebuyer incentives needed

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

The recession may be over, but consumer and business debt — coupled with rising foreclosures and unemployment — will make for a slow recovery, economists with the UCLA Anderson Forecast said in a report released today.

"Although the worst recession in seven decades likely ended in the current quarter, its negative effects will linger well into the next decade," said David Shulman, senior economist for the forecast, in one of several essays accompanying the report’s statistical forecasts.