California peaked later than the nation as a whole, so the Golden State may take longer to find a bottom.
U.S. housing market bottom may be a year away: CaseNEW YORK (Reuters) - The U.S. housing market slump is nowhere near over and home prices will probably keep falling well into next year, one of the property market's best-known economists said.
Karl Case, the co-developer of a widely watched gauge of the housing industry, told Reuters that the hard-hit U.S. housing market has gone from being the primary source of the U.S. economic recession to one of its biggest casualties.
"Never say never, but it is looking increasingly probable that we will not see a housing market bottom until next year," said Case, an economics professor at Wellesley College in Massachusetts.
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