When will market hit bottom?

Part 1: Dissecting the downturn

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Editor’s note: With the end of a year marked by weakening housing markets drawing to a close, the question on many industry professionals’ minds is “When will this market hit bottom and when will it start to recover?” In this three-part series, Inman News seeks insight from housing analysts who go deep to paint a picture of housing in 2008, compares this downturn to past cycles and seeks input from agents on how they are reacting with their business plans.

For economist Dean Baker, the next U.S.