I prefer to read and listen to the bloggers, economists, and investment strategists who have actually been right about the housing boom and bust. One of them is Gluskin Sheff’s David Rosenberg. He is smart, likable, and been proven right about how this global debt-deleveraging cycle is playing out. In short, when he talks, I recommend listening.

Even as the stock market rises on news both good and bad, seven trends offer strong headwinds to real growth in the U.S. economy.

The housing market has reached a tipping point where additional supply will overwhelm the number of active buyers and cause prices to move lower.

The non-seasonally adjusted number for any given month is a VERY noisy, volatile number. If that number made the headlines it would cause massive rejoicing or heart attacks each month. Let’s look at just how volatile it is.

As we discussed last year, government housing relief programs have tried to generate a “soft landing,” preventing the market from over-correcting and going down so far it would take years to recover.

Now, as a second round of price declines is underway, there continue to be concerns about a policy that may have simply delayed the inevitable.