It’s been said that the housing boom/bust in the UK is similar to ours, except ahead of schedule — both on the way down and on the way back up. So while the misleading headline above doesn’t have anything to do with the US, it may at least indicate that somewhere, eventually, housing does turn.
The 2.6% rise in UK home prices in the UK was the biggest monthly jump since October, 2002, and the overall year-over-year rate of decline improved from 17.7% to 16.3% since last month. So obviously we’re still looking at big declines overall, but maybe some tentative signs of a bottom overseas.
Anyway, we can look across the pond in envy.