After a fall of 31 percent from the 2006 high, housing prices are estimated to be approaching bottom, according to a Wall Street Journal article quoting the S&P;/Case-Schiller national composite home price index. “Housing prices will bottom in 2011” states Scott Simon, managing director at Pimco, who correctly predicted the housing crash in 2007. However, the article cautions, do not expect to return to the glory days of 2005 and 2006. Modest price recovery is the consensus of most money-management experts.
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