How we will know when real estate has truly bottomed

The National Association of Realtors issued another upbeat forecast this morning, prompting Barry Ritholtz to assemble, with help from InvesTech, a nice list of similar (and wrong) pronouncements going back to 2005. Which led me to daydream: WASHINGTON, January 08, 2009 – Over the next few months, existing-home sales are expected to decline as indicated [...]