US housing on shifting sands

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Find below a new note from Westpac looking at the headwinds for the US housing market. This is a very good piece of analysis with which I agree. Enjoy.

Er 20121102 Bull Follow That Flow Us Nov

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.