If I had a dollar for every article that projects a bottom in the US housing market, I'd have an investment that outperforms Apple. Barron's has a lead article seeing a bottom in the US housing market by next spring. You can find it on their website.
It's got good and valid reasons why this turnaround will happen soon and a projection from Goldman's pricing model that housing could rise 30% over the next 10 years. (Of course, prices may dip 5% this year. Not to worry - you've already lost so much on your house that Barrons says this 5% drop will be "imperceptible.")
Some thinking from the experts: If you take out foreclosure sales, house prices aren't so bad. (If I don't count my losers, I stock pick like Warren Buffett.) Also, household formations should go back to normal. And homebuilder confidence and stocks are on a tear, which may be a leading indicator.
Keep in mind that Bloomberg had a story last week that the housing market wouldn't bottom for 5 more years. Pick your news story.
Just my opinion.
Suggested musical accompaniment, Glen Miller, with Ray Eberle on vocals
Fools rush in where angels fear to tread / Fools rush in where wise men never go.