WSJ states The Housing Crisis is Over

On May 6, Wall Street journal published an article, "The Housing Crisis is Over" stating that April 2008 will mark the bottom of the US Housing Market. Reaching the bottom of the housing market does not mean that we will instantly go back to the heady prices of 2005, but that we will no longer be getting worse. With housing prices continuing to drop for close to three years now and new construction starts at an all time low, we are starting to become affordable again for American Families. Inventory levels are starting to slow with a prediction that when we reach a 5-month of inventory level sometime in 2009, which historically signals a tightness in the housing market, this will eventually turn around the housing market all together.
Historically McCall has also had its ups and downs with real estate trends but rarely with the down prices every reaching as low as it was in the last down turn. If we haven't hit bottom for real estate prices in McCall for this current downturn than we have to be pretty darn close. And with mortgage rates still low, the environment to buy a home can't get too much better.
With summer right around the corner, we will still see people water skiing on Payette Lake, shopping at the cute stores in downtown, and eating out at the variety of restaurants throughout town.
It has been three years of this current housing bust; it is time to stop mopping and enjoy life again. Real estate has always been deemed a long term investment and one meant to be enjoyed!