Alternative View: Is housing market bottomed?

http://www.businessinsider.com/prepare-for-the-coming-housing-collapse-2012-9

Believe whatever you like to believe.

Here is what I know from first hand sources:

My friend knows the team who manages foreclosured properties for all banks in a major southern city.

One of the team lead was laughing at the state of housing market:

Market bottomed? Banks simply hold off significant amount of the foreclosure properties to let them depress the market price. We see people move into foreclosure home, turned on water and electricity then just live there. We told banks about those incidents. Banker just replied: Let them live there, it is better than leaving them empty. In other cases, we see empty properties start to rot.

You figure out this by yourselves if you dig deep enough.

Why FED continues stealth QE? Answer: something is rotton, likely banks.