Sept. 12 (Bloomberg) -- What if U.S. housing bears are wrong and the home market is not peaking?

Let's assume for a moment that homebuyers and investors will not be too chastened by high energy bills and mortgage rates will stay about the same.
If the boom hangs in there, thank local economic growth and job creation, low mortgage rates and demographics.
Housing is still appreciating, and U.S. home prices rose 13.4 percent as of June 30 from the same period a year earlier, according to the Office of Federal Housing Enterprise Oversight, the agency regulating the mortgage corporations Fannie Mae and Freddie Mac. That was the largest annual increase recorded by Ofheo in 25 years. New home sales also set a record in July.
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