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Declining affordability, fewer distressed home sales and tight inventory are all headwinds for housing, but the weakness should only be temporary, writes Calculated Risk’s Bill McBride.

Higher home prices should induce more people to sell, adding supply and ultimately pushing up existing-home sales, while new-home sales and housing starts, still near rock-bottom levels, are likely to increase on the back of population growth and household formation, according to McBride.

Source: Calculated Risk