Finally. The U.S. finally has moved beyond attention-grabbing
predictions from housing "experts" that housing is bottoming. The
numbers are now convincing according to the WSJ report.
Nearly seven years after the housing bubble burst, most
indexes of house prices are bending up. "We finally saw some rising home
prices," S&P's David Blitzer said a few weeks ago as he reported the
first monthly increase in the slow-moving S&P/Case-Shiller house-price data
after seven months of declines.
Nearly 10% more existing homes were sold in May than in the
same month a year earlier, many purchased by investors who plan to rent them
for now and sell them later, an important sign of an inflection point.
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