The Housing Bulls Last Horse Just Died

Those bullish on housing have continually called blogs such as Housing Panic, Housing Doom, Patrick.net and others chicken littles.  Their shallow reasoning went something along these lines:  "The median housing price is up, meaning that home values continue to increase.  Ergo, the blogs calling the market a declining one are insane." If you fell for that poorly reasoned argument in the first place I feel sorry for you; but at last, that remaining mirage of hope for the poor folks at the NAR and other disillusioned cheerleaders has evaporated.  The New York Times reports that the median home price is expected to drop for the first time since 1950.  Try to spin that one Lawrence Yun. From the Times: The median price of American homes is expected to fall this year fo