A little bold asserting the market bottom in the middle of a recession. This will be worse than the 80’s. That said I tend to believe the market has already priced in most of the recession.

However, higher mortgages aren’t worth celebrating, neither are further Gov’t bailouts, and I completely disagree in Spring 2009 being “the hottest RE selling season since 2004”. The number of jobs lost last month alone will prevent that, plenty more layoffs are coming and if you’re right about rates, even fewer will qualify.

The biggest unknown IMO is the response from the rest of the world. As long as they continue funding our debt we’ll be okay. But that will come to an end, the question is when.

I don’t agree that the solultion is for banks to start being loose with money again, and until we cease operating as a debt society that’s a risk.