Housing: ‘The Recovery Is Here’

April 26, 2012 3:29 am

We had spotted multiple stats on housing in the past. We spotted this today:

“”What are important are sales and inventory, and those are pointing in the right direction,” said Christopher Thornberg, a principal at Beacon Economics who was one of the early callers of the housing crash. “I would say that by the end of the year, they should translate into better prices.”

Thornberg added, “The recovery is here.”

“This is not a robust recovery, but I feel confident that we are not sitting here lingering,” said [Ivy Zelman, chief executive of Zelman & Associates], who predicts that home prices will end the year up about 1%. “There really is more meat to the bone.””

Statistics Source: LATimes via CalculatedRisk

Image Source: FrumForum

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2 Comments for “Housing: ‘The Recovery Is Here’”

  1. It may be at the bottom, but it’s not going up for a looooong time.

  2. Rusty

    This rosy report seems to contradict the chart that shows foreclosures lower than the last two years. Would these be the same experts who have been saying that we have been in a jobless recovery for the last five years? Mike is right. Exactly where would the money to buy houses come from?

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