Dollars and Jens
Friday, July 20, 2007
housing market
"David Berson, vice president and chief economist at Fannie Mae, said 2006 and 2007 combined will show the biggest drop in sales since the housing downturn of 1989-91."
Berson said the housing market should bottom out close to the end of this year and there may be a small increase in demand in 2008, centered in the second half of the year.

Housing starts, however, will continue to fall through 2007 and perhaps into early 2008, he said.

"Unsold inventories remain excessively high," Berson said. "We need a period of time in which sales growth is stronger than starts."
This is basically what the people I believe seem to have been thinking.

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