re: Are we at a generational housing peak?

Because of the recession housing starts are way down on average over the last 10 years. What is dragging down things is appraisals. As costs to build rise the appraisals aren't yet rebounding in most areas. Couple that with a major subcontractor shortage and the constraints in the banking industry there is a lot of downward pressure that is almost offsetting the uptick in demand.

Over the next year or so there will be an uptick as subs come back and prices come up.