Housing prices have finally bottomed out in most parts of the country and a year from now prices could be up by 5%, according to Allen Sinai, chief economist at Decision Economics. "The bursting of the housing price bubble is over now," Mr. Sinai told MortgageWire. The founder of Decision Economics expects prices could be 5% to 7% higher by the end of the third quarter of 2010, based on the Standard & Poor's/Case Shiller house price index. "Despite big inventories, despite foreclosures in lots of areas, generally speaking housing prices are headed up," Mr. Sinai said.
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