Today’s WSJ has reported some heartening news as we head into the Thanksgiving holiday. Please note this is a “glass half full” situation, and the author states “The decline in delinquencies means the housing market’s woes aren’t getting worse, but many markets must still digest an enormous backlog of bank-owned foreclosures over the coming years. The share of households delinquent on their mortgage payments has fallen to the lowest level since the end of 2008, offering signs that modest job gains are stemming further damage for now in the battered U.S. housing sector.”
As noted in the above chart, expected declines have not materialized and some positive early indications may provide for a solid spring market in 2012. Get the full story here. Requires WSJ Subscription.