One of the funny things about real estate is that everybody’s an expert. Talking about real estate is a national pastime that’s become akin to sports talk radio – everybody’s got an opinion, and nobody’s afraid to share it.
Ivy Zelman, however, is not just any expert. She is the housing guru, a veteran housing sector equity analyst who was one of the first to warn of the bubble back in 2005. Leafing through the Wall Street Journal this week, I picked up an interesting nugget from Ivy worth sharing:
“”There’s a lot of pent-up demand for housing. More and more people want to be homeowners but have been on the sidelines because they feel no urgency to buy. Now, rising rents are going to push them to make that decision to buy sooner. Inventories have been coming down, showing very healthy declines. If that continues, I’d be much more confident that we’re at the bottom. Housing won’t take off, but it can rebound from its anemic levels of the past few year.””