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Article: The Philadelphia Inquirer The Economy column: Housing bust? Already over, several experts are saying.(Column)
- Article from:
- The Philadelphia Inquirer (Philadelphia, PA)
- Article date:
- November 3, 2006
CopyrightCOPYRIGHT 2006 The Philadelphia Inquirer. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Andrew Cassel
Nov. 3--Could the housing bust be over already? That seems hard to believe -- wasn't it only yesterday we were warning that the stratospheric rise of home prices couldn't continue forever? But it could be true. At least in the view of several hard-boiled economy-watchers, there's reason to think that the much-anticipated collapse of residential real estate has now happened, more or less. Housing markets are showing signs of having bottomed, with the inventory of unsold homes stabilizing after a big increase this last summer. Mortgage rates, too, seem to be holding steady, with the average 30-year fixed rate around 6.3 percent, quite low ...