Bottom of the US Housing Market is Close

Found via retailtrafficmag.com

According to Sam Zell, founder of Equity Group Investments, LLC, the bottom of the US housing market will be a turning point in the American economy. He says,

“The key to everything is single-family housing because that’s where consumption comes from,” Zell said. “If people don’t have confidence in their biggest asset, they won’t have the confidence to spend.”

While Mr. Zell is careful not to foster a false hope, he does give the impression that the economy shows signs of improvement, if not outright recovery right away.

What signs do you see of a recovery - or at least a mitigation of the recession - in Canada or the US?