Friday, December 01, 2006

Housing Market at the Bottom

The housing slump is over according to an article today by, Annette Haddad, staff writer for the Los Angeles Times. In today’s article, Patrick Lawler, chief economist of the Office of Federal Housing Enterprise Oversight was quoted as saying “ the transition from sizzling markets to normal or weak markets has been orderly so far, and recent drops in interest rates lessen the likelihood that precipitous changes will occur”

After an analysts upgrade, home builder stocks rallied on Thursday suggesting that investors see an improving outlook. Analysts say they are skeptical of dire warnings of pundits.

Alan Greenspan, former Federal Reserve Chairman and  Ben S. Bernanke, current chairman, are part of a larger group that declares the housing sector has bottomed out. And readers of The Realty Report know that when markets bottom out, they tend to rise again.

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