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The Housing Crisis is Over!
In an op-ed piece in today's Wall Street Journal, Cyril Moulle-Berteaux make a strong case that we may be seeing the bottoming out of the housing crisis. He makes the argument that prices may well have fallen enough and new home inventories are starting to fall indicating that the worst is over. It is encouraging to see conservative business media like the Wall Street Journal start to provide analysis that is somewhat positive. I would hasten to add that the op-ed piece is a) opinion (albeit opinion from a respected financial guru) and b) all real estate is local and Mr. Mouille-Berteaux's analysis has a National bias. Still, if this is a sign of things to come, I'm encouraged. I saw a shortish interview with him on Street Signs on CNBC. As always, the CNBC reporter, Diana Olick, who covers the housing beat is, er, downbeat about the housing market and wants prices to fall lots more before she calls a bottom. |
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