Lee: The housing market is short about 5 million homes

All right, let's start off with your thesis here, Bill. You're saying that the weakness in the housing market, that's a sign that the Fed needs to cut rates even more than it has already. So, I don't want to put this in context, though.The Fed's cut rates by about 75 basis points over the last year and mortgage rates are up about 15 basis points. So, how is that going to help when the housing market seems to be really guided by some other factors. >> Well, the housing market is is one where it's very sensit ...