Decius wrote:

By ROBERT J. SHILLER

WE’RE beginning to hear noises that we’ve reached a major turning point in the housing market — and that, with interest rates so low, this is a rare opportunity to buy. But are such observations on target?

It would be comforting if they were. Yet the unfortunate truth is that the tea leaves don’t clearly suggest any particular path for prices, either up or down.

Having a spouse that works in the industry, we keep hearing it is picking up around Atlanta and that there are high hopes for the spring to bring back some employment. At the same time, we're constantly told that all the jobs are going to contract based- no full time positions- which is safe but doesn't provide a lot of protection and benefits for workers, like health insurance.

It is a sad testament to the state of the housing industry that only a lot of destruction like what happened today with the storms gives any glimmer to outlaying rural areas...all we are really seeing is really huge homes being built away from the cities. IE over 5k square feet is the smallest HOME we've helped build lately.

skullaria wrote:
Having a spouse that works in the industry, we keep hearing it is picking up around Atlanta and that there are high hopes for the spring to bring back some employment.

This is the price bottom, but moves from here aren't likely to happen fast. I think there is this thing where people are so tired - now that we've reached bottom there is this hope that we'll move up from here and there will be activity and jobs, but we could hang around at these levels for years. I wish I had higher hopes...