The Worst of the Housing "Downturn"

The Worst of the Housing "Downturn"...

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The Worst of the Housing "Downturn"...
How about some good news about the housing market? Well, perhaps some not-so-bad news instead?

A new poll released by the online edition of the Wall Street Journal shows that the worst of the housing "downturn" may be over.

According to the survey, economists voted overwhelmingly by 2-to-1 that the worst is behind us. But what exactly does "the worst" mean? Basically, it's an indication that prices, while still not hitting the bottom, may not have much farther to fall.

In other words, the 49 economists who took part in the survey "expect home prices, measured by the government’s Office of Federal Housing Enterprise Oversight index to fall by 0.5 percent next year," contrasting an increase of 13.4% in 2005. If this is survey is on the mark, and with a significant pullback in new construction, this could be the soft landing we've all been hoping for.

Want to hear about a specific topic related to the Real Estate or housing industry? I invite you to write down your thoughts and email them to us.

Jonathan A. Schein, President & Publisher
HouseMediaNetwork.com & New York House Magazine

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