11 recovery or no? The bull versus the bear in a nutshell

Argument that pent-up demand shifts to actual demand based on attractive pricing and inklings of scarcity faces off with those who assert that home prices are still heading down and 11 months’ supply is nothing like scarcity. Fortune’s Nin-Hai Tseng limns the two sides of the debate; we think it’s too close to call. A couple of strong months on the jobs creation front and all bets would be off.

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