Sam Zell agrees with us. Real estate prices already hit bottom

In an interview with CNBC on Tuesday, Sam Zell said he sees a recovery in the U.S. housing market this Spring.

"I think starts have already pretty much bottomed out," Zell said. "I think the housing market this spring will begin its recovery phase."

Your guides have already posted on the recovery underway in Chicago. It's welcome news to hear from another source who has more to offer than the familiar refrain of doom and gloom.