From a housingwire.com article by Jacob Gaffney: Morgan Stanley Declares Housing Out of the Woods. “We expect to see 2012 end with an increase of 7-9% for the year in aggregate home prices after considering seasonality effects for the remainder of the year, with the possibility of a 10-12% increase on the bullish side and a 4-6% increase as the bear case,” write analysts in the latest Housing Markets Insight report. ” We view the bear case outcome to be relatively less likely.”