This morning’s good news about the economy emphasized that the housing recovery remains weak:

“The one area of weakness came from a housing survey, as building sentiment slipped. In some way, though, the fact the economy can keep moving without housing demonstrates its health. And as credit thaws and the after-effects of last summer’s mortgage-rate spike die down, housing should eventually regain its legs, though hopefully not to bubble levels of 2006.”

via Economy improving faster than markets and Fed believe – MarketWatch First Take – MarketWatch.

I think this particular article overlooks an important angle: The new jobs are paying less than the old jobs. Without good jobs, people can’t buy homes.