Fannie Mae weighs in
"It's very popular right now to say that we're in the third inning or we're in the fifth inning or we've in the seventh inning or all kinds of different places. And I think the reality of it is that nobody knows where we are right now. This is terra incognita. ... We think at Fannie Mae that '08 is going to be a tough year, kind of a continuation of the end of 2007. '09 will be similar, and we'll start to see some recovery and growth in '10."
More on this topic in tomorrow's paper.