U.S. Treasury Secretary Henry Paulson says in this AP video;

“I have long said that the housing correction poses the biggest risk to our economy. It’s a drag on our economic growth and at the heart of the turmoil and stress for our financial markets and financial institutions.”

“Our economy and our markets will not recover until the bulk of this housing correction is behind us.”

If by “housing correction is behind us” Paulson means home prices have bottomed out, then there is no better place to see when “our economy and markets” will start to recover than right here at Arizona Real Estate Notebook, the best place to follow metropolitan Phoenix, Arizona home prices.