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Is housing slowdown nearing the bottom?

Tue Jun 26, 2007 02:06AM | By Tony

See more in Economy | Permalink | Email | Comments (0)

Q: I want to know your opinion on the housing slump. Has it hit the bottom? I keep hearing from Fed chairman Ben Bernanke, Treasury Secretary Hank Paulson, and the others that the worst is almost over, and the real estate market recovery is just about to start. don't want to miss the boat. I am going to put some cash together and try increasing my credit score even more to be ready to jump in. But want to hear opinions of others.

A: I can only wonder what Maria Bartiromo has to say about it. Keep working on increasing your credit score and saving that cash, but hold your horses. In my opinion, which is a one man opinion, we are very far from bottoming. As a matter of fact, I think we just scratched the surface, and it is going to get much worse. How bad I don't know, but ugly enough. So no, if you ask me, don't jump, don't touch it with the ten foot pole. Work on your credit, save the money.

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