Today I read/saw two very conflicting opinions on the future of the housing market. Where is the truth? Frankly I don't think anybody knows but probably somewhere in the middle.

So on one hand we have Allen Greenspan - "Home prices in the U.S. are likely to start to stabilize or touch bottom sometime in the first half of 2009," he said in an interview with the Wall Street Journal, reported on the newspaper's website on Wednesday. See full Yahoo article here.

On the other hand I watched the below video where some "expert" was explaining (granted, sometimes quite logically) why the housing market will continue to suffer for the foreseeable feature.

Now, I think Allen Greenspan is somewhat responsible for the current crisis so why would we trust him now - he didn't see the bubble bursting so he may not be seeing the bottom correctly either. The other guy sounds to me like the type of person that likes to paint dark pictures because it makes for better news (ever wonder why  90% of the news on TV is about bad things happening to good people?).

My opinion? As I said above - nobody really knows, it is virtually impossible to predict/time a bottom. Just remember that real estate is local and there are local knowledgeable professionals to help you with your buy/sell decisions.