HOUSE INVENTORIES SHRINK...

1.  TOO MANY PEOPLE ARE UNDERWATER...AND "CAN'T SELL"

2.  TOO MANY LARGE INVESTORS BUYING FOR ALL CASH ON SPECULATION...

3.  TOO MANY BANKS HOLDING BACK ON FORECLOSURES...

4.   TOO MANY OWNERS WON'T SELL AT THE CHEAPER PRICES...IN A MARKET THAT IS PUNK FOR "REAL" BUYERS WITH LESS THAN PERFECT CREDIT...