In recent months a lot of news stories and experts have claimed they have spotted a housing bottom. I disagree. I think there is still room for a slight additional decline in prices. What is more important than spotting the exact moment of the bottom is to forecast how much will the coming housing recovery be. The answer is that when housing recovers it will not be a V shaped bounce to the old highs, rather it will be stuck in a saucer shaped flat stagnant market.
An analogy to housing is the price of Cisco shares which crashed from …Read More