It’s probably time to kiss that housing market rebound good-bye

If there are five stages of grieving over human death and dying, as suggested by the psychiatrist Elisabeth Kubler-Ross in 1969, the same may also be true for our economic stages.

Consider the current housing cycle.

We’ve had ongoing periods of denial: those bad numbers were because of weather, economists say every month. We’ve had plenty of bargaining, as seen in anecdotes from real-estate agents who see clients “waiting until next year to list,” “rushing to buy before further rate rises,” and so on. Last summer, when MarketWatch was the first publication to call the top in the cycle, there was likely depression in some quarters.

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