CNBC: How to play the housing rebound

There's a housing rebound? Look, everyone wants to believe that this has turned a corner and that housing as well as the economy is improving. It's possible, though highly unlikely. After leading the cheerleaders march into the economic abyss one would hope that CNBC might exercise some restraint this time. They've repeatedly called false starts "recoveries" and encouraged people to buy, buy, buy or whatever Wall Street is requesting. This time it's no different than before and just because there are a few positive signs it's risky to encourage people to buy into this market.

As many good signs as we are seeing, it's easy enough to see as many negative signs. Many firmly believe that the real estate market could drop considerably more before a bottom is found. Even more believe that once the bottom is found and tested (and I don't think whatever this is has been tested much), the recovery will be slow with minimal gains for quite some time. There will not be a fast-growing bubble in US real estate any time soon, but don't tell that to CNBC who are as eager as ever to create more problems or Americans while churning out whatever trash Wall Street wants.