Whereto Housing

Couple of thoughts on the housing market. Looks like we are pretty close to the bottom in new homes sales (in fact I think we have seen significant overshoot on the downside). But housing prices will continue to struggle as overhang from inventory in the existing house market and from shadow inventory (foreclosures withheld from the market) are likely to continue to weigh on home prices. Calculated Risk is a great source for following and getting insight to what is going on in the space. Naked Capitalism featured an interesting article the other day on the demographic trends in housing with a decidedly bearish tone. Definitely worth a peak (http://www.nakedcapitalism.com/2009/04/will-demographic-trends-impede-recovery.html?showComment=1240221420000).