'08 is probably not going to be a year of strong recovery. Our hope is that it stays no worse than we are today. We're not predicting any significant recovery." - Larry Sorsby, executive VP and CFO of Hovnanian Enterprises

I ran across this today and wanted to share it. I've been saying for awhile now that 2008 doesn't look like a recovery year to me. I'll believe flat. In fact, I'm very hopeful that it will be flat!

NAR is predicting a significant improvement but they're looking at everything, new construction and resale, nationwide.

There will surely continue to be markets that are balanced and moving along nicely.

We can hope!

What does your crystal ball look like?