Sports analogies are way overdone in many businesses, including housing. Still, because of the boom-bust cyclic pattern of the housing economy and its ecosystem of businesses, the nine-inning baseball game framework has emerged over the years as the most appropriate metaphor to understand what's going on and what's not going on in the housing market. One multi-cycle denizen of the housing game we know, who's had to answer the "what-inning-are-we-in?" question more than his fair share of times, calls it this way. "We're in the top of the third, no outs, and the first batter keeps swatting and cutting and chopping the pitcher's best pitches for foul balls, and so he's running the pitch count up, and he's at 14 pitches at this at-bat." Get the drift? He's saying we're early enough in the recovery that there's plenty more room for upside, but the delays, the choppiness, the going-nowhere feeling are all part of it. What inning would you put us (i.e. the housing cycle of recovery) in? Read More