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Takeaway: The U.S. housing market is going downhill (just when many economists thought annual sales would be heading up.)

Cartoon of the Day: 1,000 Years - Housing 04.25.2014

From Hedgeye's Q2 Macro Themes:

#HousingsSlowdown:  We have been big housing bulls over the last 18 months. But the party is ending. Asymmetry in being long has flattened.   Price follows demand on a lag and demand is slowing as affordability declines, regulatory changes drag on liquidity, and institutional interest ebbs.  We will walk through our updated view on the Supply/Demand/Price dynamics prevailing in the housing market and our forward outlook for prices. 

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