U.S. Housing Market Is in Worse Shape than You Think: Altos Research

Real estate data provider Altos Research is taking a very bearish outlook on the housing market.

The company says that ominous shadow inventory of distressed properties hanging over the industry will lock home prices into a downward trajectory for the remainder of this year, with property values starting out 2011 even lower than they were in 2009. Add to that the fact that the pool of viable buyers out there is shrinking, and you've got an equation that Altos says is a sign of real market weakness.