Morgan Stanley's Ellen Zentner says housing activity has bottomed. After a huge drop off in activity, demand is starting to stabilize. Yardeni ResearchThe pickup in activity has likely been due to housing affordability stabilizing. Zentner's view that the housing market is stabilizing is a big contributing factor to her call for a soft-landing scenario, where the US economy avoids a recession. But nevertheless, housing activity has bottomed, and that's probably the most important pillar to a soft-landing."

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Persons: Morgan, Ellen Zentner, Morgan Stanley's Ellen Zentner, Zentner, that's, Goldman Sachs, Jonathan Woloshin, Suisse's Ray Farris, Ian Shepherdson, undershoots, David Rosenberg Organizations: National Association of, National Association of Homebuilders, UBS Wealth Management, Rosenberg Locations: Zentner