The housing market continues to be all over the news, and it’s not a happy topic for many. The drop in home prices has been dramatic. In fact, some accounts say prices have dropped to the lowest level ever. That is true in some areas including, Naples, Las Vegas, Phoenix, Washington D.C. and New York. Even if you’re not in one of these areas, there is a condominium bubble that is much more widespread. Many people bought condos before they were constructed with the hopes of flipping them. But more condos were built than could be occupied. In addition, a lot of apartment owners converted to condos to make money, resulting in an even bigger oversupply. People buy condominiums as a transitional buy – after an apartment and before owning a home. But condos should be a more long-term purchase if it’s going to be worth your while. What about delinquencies? Detroit, Dallas and Atlanta have the highest number of mortgages in delinquency than any of the 27 markets. None of these are bubble markets, so it’s a bit of an enigma why these areas are suffering. So, have we hit bottom in the housing market or do we have further to go? Clark is guessing, but he doesn’t think we’ve hit bottom.