"Year-to-year, new-home sales were 41% lower than the level in December 2006.'There is no sign of a bottom in any of these data,' said Ian Shepherdson, chief U.S. economist for High Frequency Economics. 'We think the downside for activity and prices remains considerable.'"
The last time I heard a similar phrase was from an investment banker talking to the Viant employee's just before going public during the first dot.com boom.
