Bill McBride, who is a highly respected blogger on finance and economics, lobbed a bombshell the other day that has been predictably controversial.
On CalculatedRisk.com — which I check two or three times a day for his latest news, information and insights on real estate — the full-time blogger declared the following:
The Housing Bottom Is Here
He contended that Continue reading
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Karl Case, whose name is practically immortalized as co-creator of the Case-Shiller Index, said in September that he thought the housing market may be near a bottom.
In a paper he presented at the Brookings Institution, the Wellesley emeritus professor of economics observed that nine of 20 metro areas had shown price improvement and the relationship between incomes and house prices was nearing a level that occurred at the end of previous housing downturns.
In the New York Times that same month, he wrote that “housing has perhaps never been a better bargain.”
That was September, you might note, so why take issue with him? One reason would be Continue reading