This recently posted in the Utah Association of Realtors newsletter:
An editorial in Tuesday’s Wall Street Journal says “it’s very likely April 2008 will mark the bottom of the U.S. housing market.” Author and hedge fund manager Cyril Moulle-Berteaux says affordability, the same factor which led to the bust, will stop the housing decline. He argues that homes are now on average back to being as affordable as they were in the 1990s and early 2000s, the result of falling prices, lower interest rates and rising incomes. He says once home sales bottom, the rate of price declines will slow as inventory continues to drop. Moulle-Bereaux predicts prices will stop falling by sometime in 2009. Read the complete editorial.
