Not At The Bottom

Dirk van Dijk parses the housing numbers. The bottom line:

Efforts to prop up a huge market like housing are futile, although efforts to allow people to refinance are worthwhile. The Obama housing plan will help a little bit in that regard, but anyone who thinks that housing prices are about to stop falling is deluding themselves. Anyone who thinks that there will be a big bounce back after the declines stop is just plain being silly.

On the bright side though, renters and young people will eventually be able to have affordable housing.