Remember when Bob Toll, CEO of Toll Brothers, famously said back in 2006 that housing was “dancing on the bottom”? Analysts have been calling various “bottom dances” ever since. The most recent appeared in Bloomberg yesterday: “The housing market basically has bottomed, but it’s not going to recover any time soon,” Harm Bandholz, chief U.S. economist at UniCredit Group in New York, said before the report. “The housing market is just treading water.” Granted, the wording is a little different here. Ordinarily dog paddling and the limbo wouldn’t be considered synonymous, but you get the general idea. While there are…
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