by Calculated Risk on 3/06/2007 11:31:00 AM

Citigroup analysts have consistently been some of the most bullish on housing. So I was eagerly awaiting their first research note after the subprime implosion. Citigroup released a research note this morning and boldly stated that they are: "Bullish on Housing". There is no mention of subprime lending issues in the report, except in one chart. I find it hard to believe demand for housing will stabilize with the problems in the subprime sector (see Subprime: The impact on Existing Home Sales in 2007).