Is The Housing Market Recession Over?

Experts say not by a long shot

The Housing-Market Recession Is Not Over

Why you shouldn’t be overly optimistic about real estate right now?

After years of hearing how home prices are plummeting and foreclosures are mounting, consumers want to feel hopeful about the housing market — but maybe they’re being too optimistic.

In a presentation to the National Association of Real Estate Editors in Austin, Texas, last week, Stan Humphries, Zillow.com’s chief economist, pointed to four myths he said consumers are latching on to as they try to make sense of recent housing statistics.

The four myths:

  1. The housing recession is over.
  2. After markets hit bottom, prices will rebound to boom levels.
  3. The worst of the foreclosure mess is behind us.
  4. The tax credits saved the housing market

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