From the San Diego Union Tribune, we have Adviser says worst of housing slump may be over.
The worst of the housing slump might be over, although some pain is likely to linger, an adviser to President Bush suggested Tuesday.
Of the housing slump, Lazear said, “it looks like the precipitous decline that we saw earlier is not going to occur in 2007.”
He also struck a hopeful note that energy prices will be more stable next year.
There, it's been declared, it's officially over!
The fundamentals are back in line, no more exotic loans are being issued, the speculators have all exited the market in an orderly fashion, there will be no more foreclosures, all the fraudsters have been rehabilitated, and magically all the formerly stupid people have now become born-again Einsteins.
MISSION ACCOMPLISHED!
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