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May 01

Hit the bottom…?

Every day there seems to be more positive news about the real estate recovery…Check out a quote by Ivy Zelman which appeared last week in a Wall Street Journal article Stunned Home Buyers Find The Bidding Wars Are Back.

“We very much believe we’ve hit bottom,” said Ivy Zelman, chief executive of a research firm, who was among the first to warn of a downturn seven years ago.

Earlier this week, she raised her home-price forecast for the year, calling for a 1% annual gain, up from a 1% decline.

Why is the  quote from Zelman important?

She is an industry expert consistently recognized by Institutional InvestorGreenwich Associates, StarMine and The Wall Street Journal as an industry-leading analyst. She has been nicknamed ‘Poison Ivy’ for her harsh positions on housing over the last several years.

Now, Zelman is calling a bottom and projecting prices to moderately increase in the next twelve months.

Again, another expert on housing is calling a bottom; another bear turns bull.

 

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