Housing busts take 5 years for recovery: IMF (by Steve Goldstein)
WASHINGTON (MarketWatch) -- Housing busts and recessions preceded by run-ups in household debt result in slumps for at least five years, according to a study released by the International Monetary Fund ahead of the world economic outlook. The study looked at advanced economies over the past three decades. The report suggested transfer payments and monetary easing can limit the impact, and targeted household debt restructuring policies can deliver significant benefits.