Desperately Seeking Bottom

You might want to take a look at Barry Ritholtz’s survey post of the various prognosticators who have repeatedly and erroneously announced the bottom of the housing market. The list includes ABC, CNN, the New York Times, Reuters, Bloomberg, himself, and practically every other media outlet.

I’ve noticed something of an air of desperation lately in some of those who are announcing the bottom of the housing market.

It seems to me that we’d be better off looking for some other sector to lead us out of the economic doldrums than wishing that the housing market would resume its role in that regard.

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