Ready for some reasons to be optimistic? An April 28 Bloomberg article references the Case-Shiller index, saying the declines in home prices slowed down in 20 major US metro areas in February — including Dallas/Ft. Worth. This hasn’t happened since 2007, and Bloomberg reports that this could be an indicator that the housing market may be stabilizing.
According to an April 29 Bloomberg article, Lewis Ranieri — a mortgage-bond pioneer — recently stated, “I’m actually very enthusiastic about housing, and I haven’t said that in five years.” He also said, “In every other recession, housing has bottomed before the end of the recession. Housing is showing all the indicators that this will happen again.”
News like this seems to be giving us permission to smile and be excited about the real estate industry. According to Ranieri, “We have this amazing basket of inventory to play with. If you give the system this tremendous amount of usable inventory, cash and the financing mechanisms to work, we’re going to have a field day. We’re just not paying attention to how good this is.”
Sue Meyer
President
Coldwell Banker Residential Brokerage, Dallas/Ft. Worth
