Housing: no bull market for a whole generation? ZT

Charles Hugh Smith:

What If Housing Is Done for a Generation?

What if housing valuations are in a structural, multi-decade decline?

A strong case can be made that the fundamental supports of the housing market-- demographics, employment, creditworthiness and income--will not recover for a generation. It can even be argued that housing has lost its status as the foundation of middle class wealth, not for a generation, but for the long term. ...

full article: http://www.oftwominds.com/blogapril12/housing-done4-12.html