“Ladies and gentlemen, here it is, right here, right now. I’m declaring a bottom in housing.” (CNBC)
After three years of falling home prices and nearly 14 trillion U.S. dollars in losses in the US housing market, many experts say the housing crisis is over.
But has the market really bottomed out?
Our research shows mixed opinions from American media outlets.
First,
CNBC analysts say the US housing market has not hit bottom, and another rescue plan is looming.
“Obama’s rescue plan isn’t working right now, and I will say that I have spoken to senior level housing administration officials who say there may be something else in the works because simply they have to do something else if part of that plan isn’t working."“In fact the real-estate market will continue to deteriorate… because people are going to realize that there is not a sustained recovery going on right now.”
But
CNN offers hope and says the housing market is rebounding.
“I’m not expecting a huge upswing. Don’t get me wrong there but we may have hit the bottom and finally stabilized. And that is the first step before we can get a recovery.”
And
The Wall Street Journal gives a historical perspective on the housing market.
“If you look back at all the recessions in the post war period the housing market is always the first to rebound. The housing market particularly home sales are the first to rebound. And I expect the same to happen in this recession.”
So do you think the housing market is finally stabilizing? Do you think home sales will continue to rise?
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