Perhaps the mishmash of numbers floating around the housing market have you confused.  For those who follow the market closely, the daily news seems to bring a never-ending stream of contradictory data. 

We’re now in an extended bounce which could last until mid-summer. Stocks were up yesterday… the Dow rose 196 points.  What were investors thinking?

Home Prices Record Plunge; U.S. Trade Gap Grows; Social Security Funds Running Out Early; Citigroup Lends Most TARP Money; Big Shipper Maersk Posts Loss; EU To Do Bank Stress Tests

I never thought an 18.6% decline could actually represent good news. But in an example of how desperate we’ve become for it – particularly concerning the U.S. housing market – many have jumped on the fact that it was the first time in 16 months that U.S. home prices didn’t drop by a new record. Wow… where’s that champagne? 

Unless we see a recovery in the housing market, we won’t really see a recovery in the economy.  But is the housing market approaching a bottom? Or does it still have a ways to go?

The dollar rebounds… Home prices collapse! Consumer Confidence finally rings true… And Now… Today’s Pfennig!

Oil’s Big Rebound; More Deposit Insurance; Home Prices Continue to Collapse; Sovereign Soars on Management Change; Taking Midway Private; Pfizer’s R&D Refocus