One Year Later: Housing hits bottom?

A year after the global financial and credit markets melted down, the U.S. housing market is in a good-news, bad-news equilibrium. The good news: prices in many markets have fallen to pre-bubble valuations, home values nationally have stabilized, sales are rising, mortgage rates are low and loans are readily available to qualified buyers.

The bad news: as I recently described here, the foreclosure "pipeline" -- mortgages that are delinquent or in default--is full: since the "cure rate" of those homeowners who get current on their late payments has plummeted, the majority of these mortgages will enter the foreclosure process.

The Latest from our Partners