TODAY's Case-Shiller home price index release has inspired a wave of bearish commentary on housing markets, much of it fairly compelling. But at least one observer sees light at the end of the tunnel, and a surprisingly short tunnel. Whom, you ask? Why, Karl Case, the Case in Case-Shiller.

"I think we're going to see some signs of life in the next few months," Case, an economics professor at Wellesley College in Wellesley, Massachusetts, said in an interview with Bloomberg Radio. "The market is beginning to clear somewhat. There is some good news in this."

It seems to me that the chorus of experts pegging the American housing collapse as half over at best has grown in recent weeks, so to see a dissenting opinion from Mr Case is quite interesting.

(Photo credit: Reuters)