Whitney Tilson, one of the few who saw the housing crash coming, says the housing market now stands “on a precipice”, and says he’s shorting homebuilders. Tilson says it’s unclear which way the housing market will tip. Affordability and mortgage rates are good right now, he says, but millions of people are underwater on their mortgages, which could lead to millions of potential foreclosures that would add huge amounts of inventory to the market. Regardless of which way the housing market tips, however, Tilson thinks homebuilders are a good short.