GR-NEAM Reflections: 01/31/2012 - American Housing: Falling Prices, But Rising Value

Thanks to Matt for passing this along.

Rental economics in the American housing market are attractive, particularly relative to capital market returns available in general. Clearing the housing market would address the imbalance between rental and purchase values, but requires capital entry. Government policymakers’ attention may encourage capital movement, and the bottoming of house prices.