Housing Market spirals, no end in sight. begin quote:
""There is no sign that we're near the bottom in the housing market," said Douglas Elmendorf, a senior fellow at the Brookings Institution and former Fed economist. "Housing prices will probably fall for a year, two or three to come."endquote
http://biz.yahoo.com/ap/080306/housing_woes.html
As an intuitive person and a logical rational one I predicted in several articles that the housing market likely won't bottom out for 3 to 5 years because there is not the government will to stop it present in our government right now. Why that is I'm not really sure? One could blame the Presidential election cycle but I fear there is much more to it than that.
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