brynaw

Truck Driver Wisdom Suggests Housing Stocks Are Bottoming

<i>but I think it's easy to see that housing is a lot closer to a bottom than a top</i>

Paul, the historical evidence and market fundamentals indicate you have it exactly backwards. See Robert's excellent analysis (above) and links to the Shiller price index &amp; Credit-Suisse ARM-reset charts. We're barely past the top on this bubble. Going by previous RE market corrections, we have at least several more years to go before prices are back in line with supporting incomes and comparable-house rents. If non-RE inflation runs relatively high in coming years, this might shorten the process a bit --but, this remains to be seen.