Welcome home. Make yourselves comfortable.

The pages of the Wall Street Journal have been pretty depressing places lately. After all, the nation’s top financial newspaper has had to report on the worst recession the country has suffered in decades.

But the paper had some good news for homeowners in the District in late January. That’s when the paper reported on writer James Hagerty’s latest quarterly housing survey (http://online.wsj.com/article/SB10001424052748704905604575027370647347644.html) According to the survey, there are definite signs that the country’s residential housing market is entering the healing process following its four-year-old housing slump. The story specifically cites the District as one of the metropolitan areas where hope for a housing recovery is strongest.

What sets the District apart? According to Hagerty, mortgage default rates here are below the national average. At the same time, the District’s jobs market is expected to outperform the country as a whole, Hagerty writes.

To this I say, “Hallelujah!” I’ve been waiting for the Journal to show the District some love for a long time now. It certainly deserves it: The District is sound enough to withstand any recession, something that it has proven during the last three years. Yes, housing values have dropped from the boom days. But they’ve held far steadier than in most major metropolitan areas across the country.

Of course, the Wall Street Journal being the Wall Street Journal, Hagerty’s story did contain some grimmer news, too.

For instance, Hagerty worries that persistent unemployment woes might slow the housing market’s recovery. This makes sense: It’s hard to consider buying a new home when you’re wondering if you’ll have a job next week. Hagerty also says that the nation might experience at least one more round of housing price drops.

Still, I’m encouraged by the Wall Street Journal report. To me, it says that the country and its housing markets have survived the very worst of the recession. It’s time for healing. And, as usual, the DC housing market is one of those leading the way to better times.

Share on Facebook