I like the optimism of Ken Fisher...

Currently the big concern for the US economy appears to be the housing slowdown. Some commentators already speak about crunch, crash, disaster and so on. Quite too early - we really do not need the "dreams" of the bears - for now ...

So Ken Fisher is writing in his Forbes column:

For months now the debate has been over whether America will have a hard landing or soft landing, the answer hinging on how big 2007's housing disaster turns out to be. Well, there won't be any housing disaster. We won't have a landing at all, soft or hard. Right now the U.S. and global economies are both accelerating.

You can see right through the housing crash story by looking at the prices of housing stocks. The market knows what the economic worrywarts do not, which is that the housing sector is already making a comeback. In the last six months housing stocks are up 24%, well ahead of the overall market. If housing were destined to fall apart in 2007 these stocks wouldn't be so strong now.

Housing Boom!