Adler is good - real good. Beaconomics - out here in CA - is saying the same thing. The Big Turn begins about now. Like a lumbering aircraft carrier on the Hudson, you'll only see the slightest of changes at first; but as long as unemployment ticks down and the demographics remain constant, it will happen.
Parabolic dips end like parabolic rises. The last part is extreme (like silver last week); like the market after Obama was elected. I saw the sudden drop off in prices last August. It was like a rug was suddenly pulled-out from under the economy. Now, in the last month, asking prices have risen about 8% where I live. It's just as sudden an unexpected as the rise.
I sold my home in East Bay, Ca ... probably at the top of the market in Aug '05. Just saw the home went to foreclosure after 5 1/2 years. Guy was an insurance exec in SF with 3 teenagers. 40 other homes in the zip code also went to foreclosure recently. This community was TOP NOTCH. With high rated schools (that's why we moved there) and the best police .. low crime ... and Bay Views of San Pablo.
I'm thinking of a second home there (much smaller) with prices so low. I want to start sailing again.
Anyway .... perhaps this kind of activity is a signal ... and "the baby is getting thrown out with the bathwater."