The bottom line on a housing recovery (Back to Normal Programming)

Mark Hanson:  there are more houses today then there were five years ago but a full HALF of the primary demand cohort — repeat buyers — died due to negative equity, “effective” negative equity, poor credit or legacy HELOCs, all of which prevent sellers (repeat buyers) from paying a Realtor 6%, putting 10% to 20% down on a new purchase, and getting a mortgage for the remainder.  Put even more simply, housing “supply” has grown in the past 5 years and ready and able buyers have been cut in half.