BusinessWeek staffer Peter Coy goes "big picture" and causes no surprises in his assessment of housing's 2015 prospects: the biggest casualty of last decade's bust is gradually returning to healthy levels. 

Coy grabs quotes from National Association of Home Builders chief economist Dave Crowe and Lennar chief executive Stuart Miller for perspective. He pulls in a couple of charts that illustrate his key point, which is that, having not yet reverted to a norm, housing must eventually do just that, and 2015 will be a year that reflects the next step. Coy writes: 

Housing is slowly headed in the right direction. Executives of D.R. Horton, the nation’s biggest homebuilder, told analysts in November that they are optimistic enough about growth to reinvest in the business rather than pay out profits to shareholders in dividends. “We would never rule out buybacks at some point in the future,” Chief Executive David Auld said. “But, right now, we still see great opportunities in our business.” Read more >