TFNOON

Housing Bubble: The Sequel

The peak in home ownership was 73%+/-.
The 50-year norm is in the 55-58% range.
Each percent is equal to about 1.2 million housing units.

This 17%+/- overage in homeownership levels is, therefore, equal to about 20 MILLION homes in the hands of people who historically cannot afford to own one.....in a normal economy. In an economy of recessionary norms, homeownership falls to 52-54%.

Dangerous Optimism in Homebuilders

Correct. The bigger question is how the "markets" can be so wrong for so long. Intellectual laziness or outright manipulation?