U.S. Housing Outlook

Foreclosures in the U.S. topped 1 million last year for the first time ever. The good news is that things aren’t expected to get worse.

I think we can safely put Tilson in the bouncing-along-the-bottom camp.

But we might be there for a while.

I’m convinced there’s no need for new homes in this country for a number of years. Millions of extra home were built. It’s a huge inventory overhang”

Of course, he it talking about the United States, not Arizona, but you get the idea.