The bottom is coming, the bottom is coming!

Economists and headlines are having a field day with the latest reports on existing-home sales, new-home sales and, from Case-Shiller and the federal government, prices.  (See the posts below, as well as my latest newsletter.)

3-YEAR DESCENT

IN HOME PRICES

APPEARS AT END

So trumpets the New York Times in the lead story on Page 1 today.  But whoa, fellas!  Let’s not rush to judgment.