what bad news?
I am sick and tired of reading the news about the "weak housing market", "horrible housing market", "ominous developments in the housing market", "housing market going from bad to worse" and the other such crap. Now, we've had enough of Orwellian talk already, and it's time to call things by their proper names. A "strong housing market" meas that you have to pay prices for housing that are beyond extortionate. Anyone who tries to impose the NAR "strong/weak" terminology, is essentially telling that fair is foul and foul is fair. It's very simple. There is no such thing as too cheap oil, too cheap sugar, too cheap toilet paper, too cheap coca-cola, too cheap subway rides, etc. The cheaper the better. Similarly with property values. The closer to zero, the better. I suggest an official moratorium on the use of Orwellian slogans. Instead, let us describe the situation in correct terms. This description should sound like this: the housing market was bad in 1998-2004, then it went from bad to horrible in 2005-2006, but then it became slighly less horrible in 2007.