Housing market  recovery

The analysis of today’s housing market in the video below, in my opinion is one of the most accurate and truthful that I have seen. Be forewarned, that if you’re a San Diego homeowner who’s expecting a snapback in your home value, I’d suggest not viewing this video because the harsh reality can be, and is, quite depressing.

Robert Wetenhall, an analyst with RBC Capital Markets, talks about the outlook for the U.S. housing market. Purchases of new houses in the U.S. declined in August to a six-month low as the biggest drop in prices in two years failed to lure buyers away from even less expensive distressed properties. Wetenhall speaks with Tom Keene on Bloomberg Television’s “Surveillance Midday.”

httpv://www.youtube.com/watch?v=IdP83rmSw3o