According to the wall street Journal housing market may have bottomed out. Of course, that's what the press has been saying for the last four years. But now, WSJ says buyers are bidding against one another:
A new development is catching home buyers off guard as the spring sales season gets under way: Bidding wars are back. From California to Florida, many buyers are increasingly competing for the same house. Unlike the bidding wars that typified the go-go years and largely reflected surging sales, today's are a result of supply shortages.
We don't know. But our guess is that there's more pain to come from this housing bear market ... lower prices. And more collateral damage too.