Yea! Hope!

Home starts rise, adding to hopes of housing recovery – Economy Watch.

I think hope can be defined as a belief that everything will turn out alright. Now, when one continues to hope against all rational evidence that is delusion. Housing will not recover until Americans get back to work. In the meantime, we’ll scrape along at the bottom. My friends at ZeroHedge have pointed out that shadow inventory is on the rise again:

http://www.zerohedge.com/news/so-much-housing-has-bottomed-shadow-housing-inventory-resumes-upward-climb

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