Many people have been predicting the W v. the V recovery on Piggington for some time now. I think because of the November elections the stock market and housing will continue to be artificially supported. The bank bail outs have helped prop them up so they have probably been encouraged to not boot people out and/ or not dump the foreclosures property on the market. How long can that continue? Eventually the piper will have to be paid by those living for free and freely spending. When they start having to pay rent again; all bets are off. Maybe HLS will weigh in on this debate. As an insider, I am sure he has a sense of where the housing sector is headed.

Lower prices for working people in California may be a blessing in disguise in the long run.