Just in case you think I’m now a rip snorting bull on housing, I attach a very interesting article from Mike “Mish” Shedlock (who I think is very good) on why the housing crisis is NOT bottoming that is very well thought out – also click through to the article from Mark Hanson, who has been spot on through all of this. Both of these pieces are well done and reasonable. It strikes me that the answer is somewhere in the middle – somewhere between collapse and stabilization – so a slow bleed.

– Jack


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