At least, according to the Wall Street Journal it has and that is great news as far as property investment is concerned. An article that was published in the WSJ on the 12th July opened with ‘The housing market has turned at last. The US finally has moved beyond attention-grabbing predictions from housing ‘experts’ that housing is bottoming The numbers are now convincing.’
There are several articles available which confirm that most analysts believe the worst is over. Of course, they could be wrong and things could get even worse from here. However, that is highly unlikely. After the worst property recession in living memory there are positive signs that the market is recovering. The inventory of established homes for sale has fallen, despite the number of foreclosures, and the number of vacant homes is also down.
We have previously advised our clients that a number of analysts or ‘experts’ were of the opinion that the US market was bouncing along the bottom. We have also said that picking the bottom of any market is notoriously difficult. If investors buy within 10% of the bottom they will have done extremely well. We are now in that position so by buying now and exercising a little patience there should be some sound property investment returns going forward.