Has housing found a floor?

By Irwin Kellner, MarketWatch
PORT WASHINGTON, N.Y. (MarketWatch) -- Home prices are closer to stabilizing today than at any time in the past nine years.
Based on the latest data, median selling prices for new and existing homes combined now equal 2.9 times median household incomes, nationwide. This is exactly the ratio that prevailed during the halcyon days of the 1980s, when sales and construction of housing were booming. Three years ago, just before the housing bubble burst, this ratio was 4.5 times incomes.