Green Shoot Alert!

From “Housing Passes a Milestone,” David Wessel, WSJ:

“Nearly seven years after the housing bubble burst, most indexes of house prices are bending up.

“Economists aren’t always right, but on this at least they agree:  A new Wall Street Journal survey of forecasters found 44 believe the housing market has reached its bottom; only three don’t.

“For some time, housing has been one of the biggest causes of economic weakness.  It has now — barely — moved to the plus side.

“From here on, housing is unlikely to drag the U. S. economy down further.  It will instead reflect the strength or weakness of the overall economy:  The more jobs, the more confident Americans are about keeping their jobs, the more they are willing to buy houses.”  Italics in original.

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s