Housing starts are at their highest level since July, 2008. Mortgage interest is at an all time low. The median price of a house has gone up again. This all sounds like good news. What is not making the news is that 9.6% of FHA insured loans are seriously delinquent.Nor does the news mention the fact that almost a third of all purchases are by absentee buyers or that 20% of homeowners are still underwater. The above news does not bode well for recovery. Right now thehousing market is being kept alive by Bernanke’s QE3 program which is buying $40...