It has been a month since National Association of Realtor's flack cum economist David Lereah has pronounced the bottom of the housing market. We miss him. So here is his most recent prediction, from late in December, almost identical to the "we've hit bottom" pronouncements he made in September and May last year:
"It appears we have hit bottom. The price drops are necessary to stir sales. It is working."
For more words of wisdom from the mouthpiece of the real estate industry, go to the seriously amusing (or is it amusingly serious?) site at davidlereahwatch.blogsport.com.