In response to:

Phony Jobs Math Not Helping Housing

adrianvance Wrote: Feb 15, 2013 11:21 PM
Phony jobs math is only the bare beginning.... Come see us at The Two Minute Conservative at http://adrianvance.blogspot.com and when you speak ladies will swoon and liberal gentlemen will weep.

What will drive demand for housing in 2013? Will it be pent up demand? That was the primary driver in 2012 when interest rates fell to the lowest on record for mortgages. Will it be investors who accounted for approximately 28% of all sales last year? Or will it be good old fashioned job growth adding to demand for homes?

Pent up demand is finite. After a certain period of time that demand becomes satisfied. Any sudden increase in interest rates and that demand disappears.

Investors are price sensitive buyers. They are driven by the bottom line. It...