Back in October, we drew three conclusions about the housing market that, unfortunately, are playing out as feared. From our October 16th Digest : First, don’t expect a crash anytime soon. It’s not coming. At best, we’ll see a slow leak in prices, like air gradually escaping a small tire puncture. At worst, there’s another price melt-up on the way. Second, given the deterioration of our government’s financial position, if you can put money into rental real estate as a portfolio diversifier, it would be a wise move. Third, the thornier issue is how this housing unaffordability is just another manifestation of the widening division…
