Rustico why is this any news at all? I have been saying for two years that the government will do any and everything legally and probably illegal to do whatever it takes to avoid or simply delay the catastrophe. Call it cheerleading or posturing or whatever you like but identify it as what it is. I don’t think anyone at all agrees that in the long run this is good. Neither are loan reworks which in my opinion are illegal. Neither are foreclosure moratoriums. Spending taxpayer money and introducing legislation to stave off what is not good for anything.

However it should be acknowledged that these measures will have some sort of affect and will indeed increase activity and decrease the distress supply. The jury is still out on foreclosure supply but the stats on foreclosure forum show a hell of a large decrease for October of 08 and they will for November as well. Sales for November are up appreciably over November 07.

Call it what you like and I don’t see any Realtors here advocating a bottom of the market at all.

I wouldn’t call any of these measures a call for celebration as you implied. I would however not deny that the measures are not having an affect and if you feel talking about these measures as posturing then so be it.