UncleLongHair

U.S. Housing Has Bottomed

Well if you are defining a recovery as housing prices returning to the level they were during the worst housing bubble in 50+ years, then you may have to wait a long while indeed for a recovery.

The housing industry is a major driver of the economy, and the type of "recovery" that is required to start economic activity is a clearing of the housing inventory overhang and an increase in the number of transactions. These will allow lenders to lend, builders to build, etc. It isn't important that we see beachfront condos selling for $1M+ before we have an economic recovery.

Higher housing prices are probably in the cards over the mid term anyway due to inflation.