By: GEORGE CHAMBERLIN – For the North County Times
Let me begin by passing along my congratulations to the many people who are celebrating the current situation in the housing market. In concert with much of the national and local media, they have been able to artificially construct something that has never —- I repeat, never —- been done before: drive down housing prices at a time when unemployment is low, the economy is booming and consumer confidence is approaching record highs…….
…… at Wachovia Securities, Mark Vitner says: “We are continuing to stand by our forecast that sales of both new and existing homes bottom out this summer. Once sales stop falling, the modest drop in physical inventories should begin to translate into a decline in the month’s supply figures.”
