Realty Times: it's national but def surprising data incl Phoenix

"But even the most bearish researchers now agree: Prices are bottoming out, even in some of the hardest-hit areas."

Oh no, the HORROR!!!!

Who the hell cares about Pheonix? And of course Phoenix sales and prices are going to move higher... prices there are down 55%!!

plu,s in Pheonix, you can literally buy an entire block of houses in a subsivision for the price of a single classic 7 or 8 in Manhattan.

I think the story here is the case-shiller index reporting increases in key markets. You have to think reports of RE market bottoming in the rest of the country will have a positive psychological effect here. With the NYC market less exposed to the effects of foreclosure pricing our bottom may be closer than many people think.

(buy now or be priced out forever -there, beat you to it)

No no no no!!!
The bears here are smarter than the markets. Another 40-50% by the fall right?
I'm waiting...

What's a bit surprising is how the general theory is that New York lags in a recession but is one of the first to come out of it. I don't think that's holding true this time around, as Wall St in particular was hit hard. It's unclear what the timetable really is though.