LA_Renter: I think people, by and large, have been continuing to buy into the propaganda that the NAR and Mortgage Bankers Assn have been putting out about the bottom being in sight and the worst is over.

Not a day goes by without some pronouncement from a home building, lending or realty group spokesperson about housing being set to “pick back up” or “rebound”. Even locally, you have yutzes at the UT or Transcript bloviating about the “difference” in the San Diego market, and why we will be somewhat immune from “downturn”. The euphemisms being used to downplay this bloodbath are positively Soviet.

I wonder what Baghdad Bob is doing for work lately. He would be a great spokesman for the NAR