Discussion: Is the Housing Market Bottoming Out?
Has the housing market hit bottom? It depends on where you are – and whom you ask. Developments posed the question to a handful of economists, real-estate agents and industry watchers. Here are their thoughts:
Rick Sharga, executive vice president, Carrington Mortgage Holdings: “I think we’re either at or very, very near the bottom, and that prices will stabilize on a national basis this year. Unfortunately, the recovery is going to be a bumpy ride along the bottom for the next couple of years while the market absorbs the overhang of distressed inventory.