This meme is beginning to sound like an orgy, but Calculated Risk looks at the latest housing numbers:
...a significant percentage of recent sales were foreclosure resales, and although these are real sales, I think existing home sales could fall even further when foreclosure resales start to decline sometime in the future.
This article available online at:
http://www.theatlantic.com/daily-dish/archive/2009/03/no-we-dont-have-a-bottom/204057/
