[lexusppd]

It isn't that simple. It is the trend that matters and while 1 month is not a trend, housing permits are up.

When a market bottoms it doesn't send out a email to the world. It will slow it's descent then bump along doing not much of anything for some period of time and then will inexorably begin to creep upwards. All market downturns end, every single one of them without exception. This more then any other I can recall has been greatly over done due in part to the hysteria of the lamestream media. Are we at a bottom? I can't call the bottom any better then anyone else but I feel confident we are, if not there, within a super short distance of being there.

[Post-Neolithic]

Building permits for single family homes are down, have been down for the last 12 months. Inventory of unsold single family homes are up. What the media is failing to tell you is that the reason building permits are up is because there was a rise of 36 percent in apartment building permits.

Which should tell you one thing, people can't afford new homes and are moving into apartments. Amazing how the MSM can spin things with a few facts left out.