Friday, February 16, 2007
The USA Today reports that the National Association of Realtors today (February 15th, 2007) considers the real estate market to have "bottomed out".
The crash is over.
We may proceed to clean up the mess that was left behind and then gleefully return to the practice of pumping up pseudo-homeownership and over-leveraging American family balance sheets to achieve it (and the 6% do-nothing commision that rides along side every sale).
In the words of Senior NAR Economist Mr. Lawrence Yun: "At least the bottom appears to have already occurred. Now whether or not that will be sustainable is a different question."
Whoa! Can sellers, future buyers and fence-sitters just feel the rock-solid confidence exuding from those prophetic words?!
Posted by Markus Arelius at 2/16/2007 12:23:00 AM