"We've hit the bottom"

I have heard this almost once every week for the past 2 years or so, from one person or another. It is either or both in regards to the stock market as well as real estate pricing. This time, I'm going to make a blog entry of it just so that we remember.

C.H. - 12/14/2008 - Sunday while we were strolling to the Manhattan Beach pier to watch the fireworks. His claim is that he did not see any down trend in pricing. Now, we're keeping track.