Lots. Read and analyze these charts for yourself in the linked blog. Housing bubbles, particularly like the kind leading up to 2008 meltdown, do not correct themselves in just a few short years. This is at least a decade long struggle, that will be further hindered by increases in rates at some point, collapsing all asset values. And hence, all forms of construction.
Then there's the ripple effects on renovations, big box retail, industry employment and so on. This is a huge hangover for Main Street, caused by he biggest party of drunken Wall Street sailors in history. Yet, NO ONE WENT TO JAIL...
Ain't that America. Little pink houses for you and me.
Dr Peter G Kinesa
February 25, 2013