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Housing Market: Bottoming?

Housing Market: Bottoming? February 13, 2012

This guy, Keith Jurow, says a big loud NO!

Bill McBride is a very credible economic analyst whom I respect.  But he is dead wrong in predicting that the housing market is bottoming.  Here is why.

I will not discuss the first part of his claim – about housing starts – because I do not care about that at all.  Only economists and Bill think that this is important.

I will focus on prices in major metro housing markets.  That is what you really care about, isn’t it?…

Housing analysts have been confidently predicting a bottom for the housing market for the last three years and they have been totally wrong.  Anyone who acted on their advice and purchased a home has taken a beating.  The clamor about a bottom finally arriving this year is just as loud and will be just as wrong.Those of you who have an interest in your local housing market – either as a prospective buyer, seller, or just a homeowner worried about how low the value of your house might go – need to disregard this nonsense about a bottom arriving now.  There is no housing bottom in sight.

 


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