This column was originally published on RealMoney on July 28 at 8:34 a.m. EDT. It's being republished as a bonus for TheStreet.com readers.If you read every article about housing you would think that your house is worth 30%-40%, maybe even 50%, less than it was last year. And then, when you go to your house, you'd find that, if priced right, it sells in a nanosecond. I know the housing companies are all predictably bearish now. I heard Richard Dugas last night on CNBC talking about how bad things were and how expansion has to be curtailed dramatically. All I can tell you is that when housing was cresting, when it was about to go over the cliff we all recognize, Mr. Dugas was bullish as all get out. No, I am not trying to call an ironic bottom. I am simply saying that rationality has returned to housing. Pricing's not going up any more. We have the overextended speculators, who used cheap money, getting hammered. That's an important cohort, and that's who is doing the cancelling. But there is still massive housing demand in this country from the plain old growth we've had and that's not changing. Which is why, if you offer your house at a price that is lower than you wanted, but still respectable, it will get sold. The much ballyhooed inventory, I believe, is simply from people who refuse to recognize that housing is no longer going up in value, not that it is plummeting. This misconception of plummeting values explains why people are fleeing Countrywide Financial ( CFC) as well as some of the other more mortgage-related banking institutions. I believe that's an overreaction. Bottom line: I don't want to own the homebuilders. I don't particularly care to own stocks where the estimates are too high. I have my hands filled with companies that beat the estimates but go down anyway. But the bears have to be a little more realistic, too. Housing's not collapsing. It is simply not going up in price.