With the housing market’s woes the latest obsession in the US, many Americans are desperately looking for housing market predictions for 2008. And the latest news is far from encouraging. This from CNNMoney:

Global Insight, the world’s leading company for economic and financial analysis and forecasting, today released the first quarter 2008 update of the U.S. housing valuation analysis, House Prices in America, showing that single-family home prices fell for the third straight period

As recession fears deepened in the US in March, calls for a more aggressive Fed rate cut policy came from all angles (though Wall Street could be heard above most).

Now, as oil prices break though ceilings faster than they can be rebuilt and the US inflation rate rises, the Fed’s frenzied rate cuts are coming under closer scrutiny.

“Investors who are looking to the Fed for guidance are driving with their rearview mirrors,” says Keith Fitz Gerald in Money Morning.