Why is the housing market so sluggish?

Costs of healthcare and education, and lack of decent-paying jobs, are all factors
  • Sales of new homes need about a decade at the current rate of gains just to get to historical “healthy.”
  • Loan standards don't seem to be the problem -- instead, it's the issues underlying affordability.

Where’s the fire? By the third year of any previous recovery, the Fed has had to lean into housing to slow it down, so what’s going on?