Housing has bottomed. That's the verdict given to a Bloomberg reporter yesterday by Mark Zandi, chief economist for economic analysis and forecasting firm Moody's Analytics. Zandi said of the housing market, "The crash is over. Home sales – both new and existing – and housing starts are now off the bottom."

Our own Steve Sjuggerud recommended a housing play more than a year ago in True Wealth
. It's up 8% since then, but I bet it's got plenty of upside left in it. And I told Extreme Value
readers housing was an attractive proposition in the March 2012 issue.

Not so long ago, everybody believed housing could only go up. They were wrong. Nowadays, nobody believes housing can go up at all. They're wrong, too. Housing is perhaps the best – or at least most current – example that what the wise man does in the beginning, the fool does at the end. Wise investors are getting into real estate these days. Fools will wait…