Housing crisis coming to an end ?
Has anyone noticed the change (ever so slight) in editorials on the housing crisis. Everyone has “poking the stack of hay” and looking for the bottom - could it be close? Refer to the Wall Street Journal article as an example; “The Housing Crisis Is Over” By CYRIL MOULLE-BERTEAUX May 6, 2008; Page A23
At the National Association of Realtors Convention last week, Chief Economist Lawrence Yun, delivered a pointed indictment of the main stream press use of the Case Shiller Curve (Standard and Poors) to create countless negative stories on residential real estate. Mr. Yun’s observes that although it has been a very hard time in real estate, new building starts have been down for quite awhile and salaries at the same time have been growing. Affordability, and more lenient lending practices in the near future, could produce a stabile market sooner than many think.
John Sheehan, Lllewellyn Realtors
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