I came across an interesting Fortune Magazine story dated February 16 titled “Where’s housing headed? Follow rents.” The link can be found here.
Of course, given my previous posts on residential real estate I don’t agree with many aspects of the story, especially the statement “Given that analysis, it’s likely that prices will fall another 5% or so nationwide.”
However, I do find the story interesting as it portrays a case for the commonly-held belief that the residential real estate market decline is nearly over.
SPX at 1121.91 as this post is written