An analysis in The Economist suggests that fundamentals are in place--scarcity of supply, stabilizing of price, and building of demand--to support housing's steady recovery. Two "X" factors: one, is mortgage rate increases might possibly push monthly payments beyond where a segment of aspiring buyers out of the demand base, or two, media-fueled exuberance could blow up a sudden bubble in house prices that would stifle demand as well. Interesting second half of 2013 ahead. The secondary question here is, is everybody in this picture compliant?

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