Housing Is "Poised For Better Days"

Nice, well part of it at least, article in L.A.Times today. Talking about foreclosures, housing recovery, employment ~ oh, wait, that's what they are always talking about!

But I like this thought from Celia Chen, a housing economist at Moody's Analytics : She believes housing is "poised for better days" after the backlog of foreclosures is cleared away. She said housing is now undervalued, with prices compared to incomes well below the average over the last 20 to 30 years.


The next statement: California home prices probably will track the national trend and hit bottom during the middle of this year, she said. However, prices will probably recover at a slower pace than much of the country because housing and unemployment problems run so deep in the Golden State.


And this, I agree with this as well: However, analysts also said they expect housing in California to stabilize more quickly than in many states. The reason: a speedy foreclosure process that normally takes place without court action and is one of the most streamlined in the nation.


Thanks goodness we are a non-judicial foreclosure state! And, if we can get some more employment (of which I read another article that 2 of the 10 cities with best increased employment were in this Golden State) we are on the right road to those better days!