Your Weekly ‘Housing is at a Bottom’ Call

by Alex Stenback on February 1, 2011

This time, the bottom call comes from from none other than Fiserv/Case-Schiller, whose Home Price Insights Report (for 3rd Quarter, 2010) was just released (via Jim Buchta). 

In fact, they especially call out Minneapolis/STP as a market they expect to see price stability by the end of 2011.  See the following, ripped from their Media summary:

Now, Case-Schiller, like any index, can’t be taken as the definitive word on anything, and they caution even within the report that large (but uncertain in timing and volume) supplies of foreclosed properties remain a downside risk.  So read the whole report.

That said, it is not often affordability gets rolled back by more than a decade on any product, let a alone a house.  So if buying a home is something you are ready to do, 2011 presents perhaps the best opportunity to do so in a long time – we honestly may never again see such a confluence of low rates and low prices in the Twin Cities.

[Note: Lest newer readers mistake me for a shill, I have been far from a sunshine-spewing perma-bull on housing.  A quick scan of my posts from 2006-2010 will illustrate that]

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