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Beyond the US fiscal headwinds - housing

James Price with Macquarie Private Wealth reports - US Home prices have been more stable and improved slightly in recent months, providing further support for the recovery in housing. Pricing remains the riskier part of the US housing recovery as the US Federal Reserve has certainly been providing unprecedented stimulus, yet we are only seeing minor gains from that. But with household formation rising and vacancy rates back down to historical levels, we are more confident the recovery will continue. So what makes this a game-changer?