Housing expert and economist Karl “Chip” Case says the US real estate market looks close to its bottom and could rebound within 90 days.
He bases his opinion on the fact that new housing starts have dropped under the 1 million (annualized) rate, for the first time. In previous downturns, the market began to rebound when it hit this benchmark.
A caveat, however.
“Anybody who tells you they know when the housing market will bottom is delusional, but anybody who denies there are some positives out there that could make the housing market bottom fairly soon is equally delusional …”
Source: End To US Housing Market Meltdown In Sight? – Banker & Tradesman