CNN Money - "On the path to a housing rebound"

This morning, like every other morning I pull up google reader (which syndicates all the news I wish to read) and wow I was amazed - it was the first time in months if not years that I can recall a national news group saying something positive about the housing industry.

The story highlighted that new home starts have fallen to the lowest level in 17 years - that made me smile for 2 reasons

1. The media said something positive about Real Estate
2. Phase 1 of the Real Estate cycle is recovery which is defined as low to no new construction.

Now with the media beginning to print positive information, new home buyers confidence should begin to grow and with new home starts data supporting we are in the recovery phase of the market - it seems to me that it is a hot hot time to be a Real Estate Investor!

As we all know Real estate markets are cyclical due to the lagged relationship between supply and demand of homes. With the supply being curbed with the drop in new home starts (the lowest since 1991) and with the media beginning to have headlines like "On the path to a housing rebound" (source http://money.cnn.com/2008/06/24/news/economy/tully_housing.fortune/index.htm) it seems obvious to me that it is time to buy, buy, buy. Economics 101 educates us about Supply and demand - the supply is obviously dropping at an extensive rate and the demand is slowly picking up so this is the time for real investors to go and make money!

I would love to hear what your feelings are on the street?