patrick.net

Seems like the bulls are calling a housing bottom...  Unfortunately the facts are not on their side:

http://www.ritholtz.com/blog/2009/07/more-charts-on-new-home-sales/

I wanted to add another great article (from ZeroHedge, warning PDF) about The End of the End of The Recession.

Conclusion:

• Zero Hedge hopes to have demonstrated the tip of the iceberg on the topic
  of the Recession (and whether it is over): there is much more to be said on
  this topic
• We suggest that readers approach any definitive statements, be they from
  investment banks or the mainstream media, on the topic of the recession’s
  duration, with infinite caution
• That said, by many metrics the economy is leaps and bounds away from
  anything remotely resembling a recovery
• The critical exercise is not to get caught up in everyday noise: there are
  many ways to push noise in one direction or another and to lead many to
  believe that signal is, in fact, the noise
• Keep in mind the noise is easy to uncover – it blares at your all day long
  from the mainstream media; the signal is much more difficult to trace, and
  usually involves a substantial dose of contrarian skepticism
• The take home message: seek the signal, avoid the noise, and do your own
  homework

#housing