It is really remarkable how much where we are today looks like the bottom we've had in the last three cycles. Every time we've gone below a million starts, the market has cleared at that moment.
It's bottom-fishing time, I think. There's got to be bargains in Florida, Arizona and Nevada.
~ Prof. Karl E. Case, Wellesley College, "Is Housing Slump at a Bottom?," The Wall Street Journal, May 6, 2008, by Brett Arends