By Billy Rose
Add Forbes and CNN Money to the list of influential business/economic publications that are heralding the turnaround of the American housing market.
Though Forbes cautions there are “downside risks” to their positive outlook (an unanticipated increase in the pace of foreclosures, sluggish job growth, a “political train wreck” on budgetary and tax issues), they “remain optimistic that low mortgage rates, high levels of affordability, rising rental prices, and slowly improving conditions in the overall economy will combine to keep the housing recovery on track.”
“Nationally, we believe that housing has finally turned a corner,” declares Stan Humphries, Zillow’s chief economist and a Forbes contributor.
Just last week, The Wall Street Journal also announced that the housing bust is over.
Read the Forbes report on the turnaround in the housing market here. For CNN Money‘s take, go here.
Photo Above: 9212 Hazen Drive, Beverly Hills
