Feeling For The Bottom

No, it's not a throwback to the Mineshaft's glory days. The new housing numbers were better than projected. Here's Free Exchange's take:

[W]hile the establishment of a price floor in most markets will help secure economic recovery, housing isn't out of the woods yet. Like much of the rest of the economy it's in the early stages of a very vulnerable positive turn, which might not prove to be sustainable.

Calculated Risk warns that there will be two bottoms. My experience is that bottoms are rarely under-counted.