2011-05-16doctorhousingbubble.com

``What is interesting is that the market did hit a bottom early in 2010. Yet what wasn't accounted for was the double-dip in the housing market which is what we are now clearly in. The enormous backlog of shadow inventory will keep a steady stream of lower priced properties for years to come... In the end home prices will continue to decline simply because no income growth has shown up in over a decade. Even if we do see income growth, we have to measure this with other rising costs like food and fuel. In the end, you can't eat your house and maybe this is why the American Dream is now being redefined.''



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