Pent up demand

NYT - 'Prime Loans About to Implode': Where's the Evidence?

The issue with prime is that even though the prime default rates will look tame compared with the lower quality loans they are a much bigger piece of the mortgage pie. And this is coming after many lenders have had their capital decimated.

These pollyanna's seem to think that housing will work like the hyperactive stock market where the half-life of a "story" is measured in minutes. Yes, everyone's read the same stories -- doesn't follow that it's all priced in.