One Barclays analyst thinks that even saying that the housing market is growing ‘slow, but steady’ is being ‘perilously Pollyannaish.’
Source: www.businessinsider.com
The comeback of the US housing market has been one of the most bullish themes of the post-financial-crisis era. And for the bulls, it continues to be a bright spot in an otherwise slowing US economy in a slowing global economy.
But in a chilling 88-page industry note, Barclays analyst Stephen Kim warns that the bullish tale spun by his peers is more of a fairy tale. “At this point, it has become hard to overlook housing’s dismally slow pace of recovery,” Kim wrote.
The housing market could have a lot more runway to go and could potentially accelerate if the rest of the economy can see a marginal uptick.