I think the catalyst could be the treasury yield. If we do not see any bond market rally and the yield keeps creeping up then we certainly may see the catalyst that will result in a depreciation notch down rather then a slow slide. Right now we are near 5 and the selloff has been going on for 2 months give or take. If the 10 year hits 6 or 7? Then yep for sure we will see the housing market get pounded good and hard and it will be fast.
