Lacker: "Housing will bottom mid 2009"

[yokna7]

Well this guy is pretty optimistic, though he did get it right when he says the federal interference needs to be rolled back.

http://www.bloomberg.com/apps/news?p...&refer=economy

[ArchPaul]

He's high. Unemployment will be peaking next year which will mean more foreclosures, plus alt-a loans are becoming toxic and the 5 year arm resets are coming in 2010/2011. Couple that with tighter nonlending banks, wiped out savings. Who's going to buy these homes?
With what? The baby boomers are worried about retiring, not buying a bunch of homes.
Keep in mind foreclosures take at least 6 months to work its way onto the market. So next
years foreclosures won't be on the market till end of 2009 and into 2010..