American Premium Water Corp. (HIPH)

[gman18976]

Its all over....

So does our guest Baker see the so-called housing recovery now? "No. I mean I think people that are saying that just aren't paying attention to what's in front of their eyes," says Baker, an American economist and co-director of the Center for Economic and Policy Research.

"I think we’re going to see a big fall-off in purchases for the rest of 2010 and even into 2011,” Baker says. “So the idea that somehow the market is stable, that housing prices will rise anytime soon – it’s really hard to make a case for that."

Baker lays out several reasons for his bearish case:

* Programs that lifted the market, including the tax credit for first-time buyers, have expired.
* The Federal Reserve is exiting the mortgage market, which will likely push rates to 5.5% to 6% by the end of the year.
* There's still an inventory glut and rental rates are falling in many markets, notes Baker, author of "False Profits: Recovering from the Bubble Economy." He says the rental market doesn't lie.

http://finance.yahoo.com/tech-ticker/housing-bulls-are-%22not-paying-attention%22-to-the-facts-says-dean-baker-483703.html?tickers=xhb,^dji,^gspc,xlf,tlt,tbt