New Signs Point to End of Housing Meltdown

Columnnist Dean Callbreath from the San Diego Union-Tribune argues that there is growing evidence that the San Diego housing market is beginning to slow and may actually bottom out sometime next year.

"Just last week, the Anderson Forecast at the University of California Los Angeles, one of the state's premier economic-analysis groups, predicted that California real estate prices will hit bottom by the middle of next year. Unfortunately, the UCLA Anderson Forecast has been unrealistically optimistic over the past couple years, so its rosy prediction may not match reality.'
On the other hand, the more accurate economic forecasting team at the Anderson Center at Chapman University in Orange (they produce charts these days showing how much better their predictions are than UCLA's) predicted a 6.7 percent decline in housing prices next year for California – great news compared with this year's 34.2 percent."

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