Seers used to get fried if they were wrong; now they merely get roasted by bloggers, the cyber equivalent of Monty Python's "soft pillow" torture. Lacking harsh consequence, predictions for a rebound were bound to abound, and they have. Here's one from Charles Lieberman, chief investment officer at Advisors Capital Management LLC, as reported by Bloomberg's Joshua Zumbrun and Kathleen M. Howley: “Once we get the ball rolling, it becomes easy to roll. The most critical thing the Fed can do, which is not easy, is to promote job growth. If we see job growth we are going to see a very strong housing market.” The article goes on to quote housing's own economics prophet: "Housing starts probably will reach a three-year high of 739,000 in 2011, creating enough jobs to shave half a percentage point off the unemployment Rate, said David Crowe, chief economist of the National Association of Home Builders."

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