One indicator arguing that a housing bottom is near is residential spending relative to household net worth fell to 1.07%, consistent with prior housing bottoms.
Interesting. This is worth watching. Can you please point us to a reference. I’d like to see how long it remained this low in prior bottoms.
NAR expects … After seeing what they predicted for 2007 as of the end of 2006, that’s as far as I read that sentence. Sorry, they will eventually be right whether it’s 2008, 2009 or 2010. But their forecasts have been worthless and off the mark.
