Is Anyone Calling A Bottom?

They sure are.  “With his company reporting that foreclosures in Los Angeles were down 20% in April from a year earlier, PropertyShark.com’s chief executive is optimistic that things won’t get that much worse.

“I’m calling the bottom for Los Angeles,” says Bill Staniford, who is based in New York. Foreclosures “seem to be leveling off there. Certain areas have been hit so hard, I just don’t see how it can continue to go that way.”

http://blogs.wsj.com/developments/2009/05/07/has-los-angeles-hit-bottom/