Take Note: The housing crisis is ending (seriously)!!!

It may be hard to believe, says John M. Berry in Bloomberg, but the "recent flow of housing data" suggests that the worst of the housing crisis is behind us. Existing-home sales have stabilized, in a sign that home prices have fallen enough to lure buyers back in the market, and sales of new homes "have also moved sideways in the last couple of months." Housing starts seem to be leveling out, which is good news for GDP. And home prices are rising in some metropolitan areas. That doesn't mean a rebound is imminent. But "if you're in a hole, the first thing to do is stop digging," and "in the case of housing, we're ready to throw down the shovel."