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June 23, 2008

Harvard Agrees with Me

Officials from Harvard University's Joint Center for Housing Studies that the U.S. "is in the throes of a housing downturn shaping up to be the worst in a generation."

That's exactly what I thought last year.

The silver lining in this news, in my eyes, is that the daily pounding of the news media on this issue will accelerate this thinking to become cliche.  Once it reaches that point, we've likely hit bottom.

I'd wager we've reached the halfway point of this downturn that began it's turn in late 2006.  Early 2010 is most likely when prices are stabilized to present a market bottom.

www.BrettGrendahl.com

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