An article in the Wall Street Journal, Online (5/6/08) reported "The Housing Crisis is Over." The national housing market is considered to have bottomed out in April 2008, with a long but forward moving road towards recovery. The significant factor: affordability.

The quick summary is that new home construction has been significantly cut, contributing to declines in inventory, which has in turn slowed the decline in prices. Inventory is expected to continue to drop, and as we near the 5-month supply level, should see the prices beign to readjust as the market demands shift. There is a good video clip from Jim Cramer's Mad Money interview of Bob Toll, CEO of Toll Brothers, that gives a builder's perspective on this...offering a light at the end of the tunnel for Naples, Florida.

I have seen these and other clips and articles flowing through my email lately (and repeatedly), which causes me to think that perspective is valuable! Good news builds on good news. The market's recovery is at least in sight, and won't we all be happier for it?!