The Twitter-sphere is buzzing today with retweets of a report from David Wessel, a well-respected Wall Street Journal reporter, who calls an end to the housing bust. Here's the headline: "The U.S. Housing Bust is Over." Here's a link to the story.
In short, Wessel cites several key housing studies that show house prices and other indices are "bending up." He cites evidence of growing strength in both the resale market and construction, suggesting that inventory levels are now so low that additional supply is needed.
To be clear, all markets are local, and the national housing market is still far from healthy, but the Wall Street Journal's new survey of forecasters showed that only three of the 44 experts polled didn't believe that the market had reached bottom.
What do you think? Can we believe the numbers? And has the market turned in your neighborhood?