Summary
It is still too soon to tell if the housing crisis has bottomed out. Foreclosures in April rose another 65%, per RealtyTrac.com and over 1.2 million people are in some stage of foreclosure. We will not be able to tell when the housing crisis hit bottom until years after it hit. Ask any economist and they will tell you that to correctly analyze a trend you have to wait until after it has passed and look at the historical data.
Analysis
Stating that the housing crisi has hit bottom at the current time is ludicrous and cannot be calculated until the bottom has come and passed. Only in historical figures and facts can you derive when a trend has actually changed either way. Lets stop forecasting when the bottom has hit and lets start working on getting the secondary market to revisit the loan pools on the market currently to truly end the housing crisis.
