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Housing downturn could be approaching bottom; Jump in sales, price drop may be signs

October 21, 2008

...Delores Conway at the University of Southern California Lusk Center for Real Estate said the bottom is a "process, never a point in time.
"And we've been seeing that the market has been bottoming and it will continue probably into next year."
She had been expecting the credit crisis to ease by mid-2009, but now thinks it might be delayed, possibly into 2010 because of the economic turmoil sweeping the globe...