Americans more honest or just further into the crisis?

I’m looking at the front page of USA Today here.

“Housing slide yet to hit bottom”

The weird thing is all the quotes are from VIs, and they’re denying nothing. Ok this first one’s from an economist:

How about this though:

Realtors reporting falling sales? Builders predicting reductions?

In Ireland the spin always consists of positive words. Prices never fall or drop, they “ease” or “cool” and it’s always welcome. Enquiries are always up and the future looks bright. It’s always looked bright. Surplus? What surplus?

While David McWilliams was on the Late Late last week someone texted in to say their Dad is selling new builds for 400K and having no problems at all.

When everybody starts to realise that prices are dropping then it’s in Estate Agents interests to agree for a while and then in the next selling season say that it’s all over now and prices are rising again!!!