Fed's Plosser says housing to bottom next year

In an article posted on Reuters on Friday, Philadelphia Federal Reserve President Charles Plosser said the troubled U.S. housing market should find a bottom in the middle of 2009. Plosser said the economy had slowed dramatically, making inflation less of a concern. He also added that the economy is going to be very weak in the fourth quarter.

I completely agree...IF the Fed gets mortgage rates to 4.75%.