The Housing Bottom Is Here: Economist Russell Price Explains

by Catherine New Jun 21st 2011 10:15AM
Updated Jun 23rd 2011 8:15AM
Housing bottomFor nearly two years, economists and real estate experts have been on the lookout for the bottom of the housing market. That time is here, says Russell Price, a senior economist with Ameriprise Financial (AMP), a financial services company.

Price spoke with DailyFinance to explain why the decline real estate is just about over, why rising interest rates are a good thing, the trend in rental rates, and why American homeowners who refinanced during the boom will be in strong financial position in the future.





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247 Comments

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Erik Corr

Even if it is the bottom we can go sideways for YEARS!

February 11 2012 at 11:01 AM Report abuse rate up rate down Reply
justaluckyfool

HE JUST GOT LUCKY.It may really be the bottom.


Previewing your Comment: "Getting cash to complete short sales"(sun-sentinel.com)
"IS THIS JUST TOO GOOD TO BE TRUE"
We will NOT be able to get out of this present economic mess without solving the housing crisis,mess.Oh ye of little faith that keep moaning and groaning about the "deadbeats,bailouts,etc";you need to realize that the value of EVERYONE's home goes down with the foreclosures,even if you paid off your mortgage and it took 30 years.Any small way that these people are helped,does in turn help the taxpayer and EVERY HOMEOWNER..Fix the housing market and jobs will be created and deficits will be reduced.The government tried paying $100,000
to create a job...1 job, and it didn't work.Now if the banks get this "toxic loan matter"aka cancer OFF it's books and they pay $10,000 on each loan;wow, it is almost a free ride for the taxpayer.
BUT beware,there are over 3 or 4 million homes that need to be rescued.
As fast as they do that and if they can do that and remain solvent,
AMERICA will be a winner.
"Lenders Reward Owners for Short Sales" should be called QE3.
Chase and Wells Fargo may have even woke up B of A.
If they do if fact get most of these notes off the books and replace them with good ones we will be out of the woods.TOTAL RECOVERY !

June 28 2011 at 8:59 PM Report abuse rate up rate down Reply
GazFreeFood

Housing in Florida seems to be showing signs of improving but many still trying to recover. My family has cut back in all areas but still continued to struggle. I am so thankful because someone shared with me an opportunity to eliminate my family’s grocery and gas expense. If this would help you check it out: http://www.groceriesforfree.biz/gaz

June 28 2011 at 3:36 PM Report abuse rate up rate down Reply
Tom Beaman

i didn't read your column, but I'll gladly steal your traffic to enhance my cash flow. Thanks. I love you. http://71-37-34-56.tukw.qwest.net/a380.htm

June 24 2011 at 12:26 PM Report abuse rate up rate down Reply
Iselin007

What chumps thinking the scam days were coming back. It's not 2003 about time they got with the program those cake days are over.

June 24 2011 at 6:22 AM Report abuse rate up rate down Reply
Iselin007

Build gallos for these creeps it would create millions of contruction jobs!

June 24 2011 at 6:11 AM Report abuse rate up rate down Reply
Iselin007

They snuck in people's back yards to measure property they thought they could get an flip with their crime partners. They would push you on the tracks if they thought they could get your estate.They need to hang like horse thieves!

June 24 2011 at 6:10 AM Report abuse rate up rate down Reply
Iselin007

Bunch of thuggies thought they would be billionaires now their likely to get drafted for WWIII.

June 24 2011 at 6:02 AM Report abuse rate up rate down Reply
Iselin007

Wasn't it obvious that the Realtor Associations were lying when they said the Tech Bubble and recession's job losses won't effect the housing market because they knew about the fraud loans years ago? Well the collapse of realstate blew back in their face an now it will likely out live them. The housing scam flipping days are over get a job!

June 24 2011 at 6:00 AM Report abuse rate up rate down Reply
Samir semaan

The housing meltdown since 2008 has reached its bottom and this what I said 3 months ago. That means what it left forclosures are dwindling and eliminated day after day and that is good for the economy and the overall family when people buy new homes or forclosures homes they buy appliances electronics furnitures and this help the economy to grow and hire more workers the goal of the central government is less spending and to rally against the deficit by implementing the office of anticorruption in the FBI is the federal bureau of investigation and to keep americans safe.

June 24 2011 at 12:46 AM Report abuse rate up rate down Reply