The WSJ loves “hope.” The housing market will undoubtedly improve one day, but it will probably not reach the heights of 2006 in our lifetimes. The last time the housing market tanked this badly was the 1930’s, and the country required a baby boom to erase those losses which did not happen until the 1950’s. We are about to experience a reverse boom as those baby-boomers move into smaller homes for retirement.
Buy a house for the security. Buy it because it homey. Buy it for the good school system. But don’t buy it believing that it will be a good investment.