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On Finding A Bottom

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With home prices showing signs of stabilizing aka prices are rising or flat, but no longer plunging in some cities, the New York Times suggests that the market may hit bottom, citing the instance of buyers like Kirit Shah. Mr. Shah paid $260,000 for a five-bedroom Florida home, about half the price he would have paid during the boom. “I’m on a lakefront. I never dreamed I would be on a lakefront," Mr. Shah tells the paper. And skeptics on bottoming predictions: "Skeptics say they believe the market is merely pausing before it resumes falling and that much of the life in the market is coming from speculators." [NYT]