Roll the dice, predict the future.Analysts at Barclay’s have determined that, depending on a variety of conditions, the nation’s housing supply could reach “normal” levels in two, three, our four years.

That’s per a story in HousingWire.

For fun, count the number of “ifs,” “buts,” and “howevers,” and you’ll understand why we take any kind of prediction with a grain of salt.

If construction remains at or slightly above last year’s levels…

[If] household formation rates rise to 1.1 million…

If household formation exceeds net construction for a sustained period…

If underwriting criteria remain tight…