Photo: Iduke, Wikimedia Commons
Earlier we showed you a long presentation from investment manager Harvest Capital Strategies arguing for a bullish “turn” in housing in 2012.Also on the housing front, a Citi analyst came out today arguing that everyone was missing a huge story in housing, which is the collapse in available for-sale inventory.
Of course, while the media is missing it, the market hasn’t: The homebuilder ETF has been on a crazy surge ever since the beginning of the month.
Anyway, we wanted to bring you four key slides from the Harvest Capital presentation, which get at the essence of the bull case for housing, which is basically that demand is so low, and household formation so anemic, that there’s basically only one way (one hopes) for it to go.
The gist: More demand is on the way.
Also, since tomorrow is Case-Shiller day, it’s even more important to know the arguments for where housing is going.