NAR economist calls worst over

National Association of Realtors economist Jed Smith spoke Wednesday to an industry audience in West Palm Beach, claiming that the worst of the housing crisis is over. While South Florida will lag behind the nation in terms of a housing market recovery, he said there was cause for subdued optimism. While there won’t be a bold recovery, the deepest depths have been reached, Smith said, despite the ongoing overhang of high unemployment and continuing high foreclosure rates.