In a recent statement, Michael Gapen emphasized that the housing market is facing a prolonged period of stagnation, with no quick solutions in sight. This message was reiterated by a Bank of America Economist, highlighting the challenges that lie ahead for the industry.

Key points:
– Michael Gapen acknowledged the complexity of the situation, indicating that a resolution will not happen overnight.
– The Bank of America Economist’s perspective suggests that the housing market will remain stagnant until at least 2026, underscoring the long-term nature of the issues at hand.

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