analysis in making their arguments. Now historical data analysis is a valuable tool in determining mkt appreciation, contraction or stagnation except in current conditions. Looking to recent histories "Peak" market conditions to form critique and draw comparisons is Inane in that recent "peak" conditions are now known to have been extremely inflated due to a handful of reasons , governmental dictate & interference chief among them and contributed greatly to the collapse.. Sometimes one has to step outside the Academic bleating of the so called experts who have never spent a day actively involved in the market they are talking about. Is new construction picking up , are sales of existing properties increasing ? yes on both accounts, anemically but still coming back. Now given recent history do you not suppose contractors would approach speculation with a considerable dose of skepticism , They must be seeing something the super Geniuses aren't. The rebound will continue at a snails pace as long as the overall economy is on the skids. Once the economy picks up you will see the housing market gather momentum and rebound further . Naturally the return to having to only approve mortgages for those deemed credit worthy of , financially capable of and Intending to pay off a mortgage will slow a recovery to a certain extent.
If you aren't attempting to sell your home it doesn't matter if the mortgage is 1000% of current market value. In an appreciating mkt a 4 month supply of inventory aint squat unless of course they are overpriced , in need of considerable repair/upkeep or both.