Jonathan J. Miller, appraiser-extraordinaire, has an excellent post today about the state of the housing market.

Its very difficult for most consumers, government officials, academia and real estate professionals to get a real world gauge on how a real estate market is actually doing. Tried and true methods all seem to have some sort of flaw and when a market is in transtion, the changes become even more pronounced. And then throw in the source of the information, with the presence of spin, makes the effort even more daunting.

What's a consumer to do?

Well, read a lot. And, think a lot. And, be skeptical.

That's what I do.

Mr. Miller has a lot more information, so do read on ...

More: Home Prices: To Tell The Truth, The Whole Truth And Nothing But the Truth (Sort Of) - By Jonathan J. Miller, Matrix