The mentions low income growth as one reason for housing's sluggish recovery. But there is a disturbing secular trend which may cause "low income growth" to be permanent. It is the decline in jobs, real income, and wealth among all but the richest Americans which appears to have been happening for the last decade or more - likely caused by incredible advances in technology. Housing will never recover if fewer and fewer people can afford them.
HEARD ON THE STREET: Housing Market's Foiled Spring - WSJ.comhttp://online.wsj.com/news/articles/SB10001424052702304788404579519933381207784?mod=Markets_newsreel_1