WSJ: Five Issues Facing the Housing Market

Washington, DC, Jan 6, 2012 --  The Wall Street Journal outlined the five major issues still facing the housing market in 2012.

They are confidence and jobs; foreclosures; rising apartment rents; mortgage credit and rates; and regulation.

The Journal noted that increasing jobs is a key to turning the housing market around. Also, it's not clear if foreclosures will continue to push prices lower, keeping many buyers out of the market until they're sure prices have stabilized.

However, rising rents may make buying a home look like a better alternative, especially if potential homeowners can secure financing, which has been much harder to do over the last year.

The Journal notes that the real estate story will be largely "local" in that every market will recover at its own pace. The Journal said it's not useful to talk about a "national" housing market.