National real estate market nowhere near the bottom?

I found this interesting real estate housing article written by Caroline Baum, a Bloomberg News columnist. This quote stood out for me:

While homebuilders are pressuring Congress to enact a tax credit for first-time
buyers, they are resisting the one thing that requires no legislative action to
spark buyer demand, according to Thomas Lawler, founder of Lawler Economic and
Housing Consultants in Leesburg, Virginia: Cutting prices.