I don't know if anyone cares about housing anymore but it is the problem. Middle class people have no value in their biggest asset and they can't do anything about it. They can't refinance or buy a house or sell a house and they can't get an equity loan. In Rocket Man I put forth the idea our best days our behind us because we were sold a bill of goods. We really didn't want all of this, we just wanted the middle class childhood that slipped through our fingers like the contentment that eludes us now.
And you really have to wonder when it will come back. Nobody even talks about housing anymore. It just is. But the reason there is no demand is there is no backbone to the middle class anymore. There is no nest egg. It all vanished in the crash. And now you have people who don't want to spend a nickel and worse they are losing their home or walking from their home or thinking of walking. And no one in either party even talks about the problem anymore.
As Dale Hammer says in Rocket Man. "This is what I always imagined my childhood should be, a car parked by a modest home on a snow covered street with everyone safe and warm in middle class slumber. I realize now that is what eluded us in our drive to have it all....our contentment, our happiness." And the way things are going I think it's going to be a long long time until we see that again.