I’m not a believer….yet. The difficulty in obtaining a mortgage, the glut in as-of-yet unforeclosed on homes, and the pathetic employment situation all conspire against a robust housing market. I’m reminded of the word “unexpectedly” that crops up every time bad economic news is reported. Robert Stein, senior economist at First Trust Portfolios, talks about U.S. housing starts in August and the outlook for the U.S. housing market. He speaks with Betty Liu on Bloomberg Television’s “In the Loop.” Video here.
