Barry Ritholtz on the Real Estate and Zombified US Housing Market

A few days ago, I wrote a post titled No End in Sight for the Housing Bubble in the US given the amazing amount of speculation going on in that market and the bullishness which accompanied it.

Yesterday, the Census Bureau reported that sales were down — and this was unexpected by the market and economists (who could have known??).

More importantly, there was also a great interview of Barry Ritholtz on Capital Account this week, available on YouTube. Barry goes into the details of why and how there will NOT be a rebound, and what are the sources for a massive shadow inventory: