The Housing Market Isn't as Bad as New Numbers Indicate

The inventory comments in this article are moronic. The WSJ also does not note how building has not been happening in the same areas and fashion in which it did during the bubble: it is trending urban and multi-unit, not exurban free-standing homes. So this "recovery" is really more of a shift, which is worth bearing in mind when considering how much the exurban "inventory" will be worth on banks' balance sheets.