Housing Market Has Bottomed?
Posted by Marc Rasmussen on Friday, May 9th, 2008 at 6:26pm.
Noted real estate expert, Professor Karl E. Case, created the chart above showing the housing starts and recessions since 1972. Notice how every time the housing starts dip below the 1 million mark the real estate market turns around and the recession end. In March of 2008 housing starts dropped below 1 million.
Case believes the market is near or at the bottom. "It's bottom-fishing time, I think," says Mr. Case. "There's got to be bargains in Florida, Arizona and Nevada."
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Share2 Responses to "Housing Market Has Bottomed?"
sarasota wrote:
Thanks for the opinion Scott but I disagree. I think we are very close.
Thanks for the opinion Scott but I disagree. I think we are very close.
Posted on Friday, May 23rd, 2008 at 6:21am.
Not even close! This will be the worst drop in history! More foreclosures to come and more shortsales... when you stop finding shortsales/ then you are at the bottom.
Posted on Friday, May 23rd, 2008 at 6:20am.