According to an article in the Wall Street Journal online “The Housing Crisis is over”
Written by Cyril Moulle-Berteaux, the article states despite the gloomy headlines in traditional media, April 2008 was the likely the bottom of the U.S housing market. Reaching the bottom doesn’t mean by next year we will be seeing double digit increases in prices, but at least things will no longer be getting worse.
Well, that is something. We’ll take it! But of course it is not that simple.
Mr. Moulle-Berteaux, a managing partner with Traxis Partners LP which is a hegde fund firm in New York also stated “We are of course experiencing a housing bust, with serious consequences that are still unfolding. The odds are the reverberations will lead to subtend growth for a couple of years. Nonetheless, housing led us into this credit crisis and this recession. It is likely to lead us out. And that process is underway right now.”