Reading this article about what’s holding back the housing market, one can’t help but think of Franklin D. Roosevelt’s classic line: The only thing we have to fear is fear itself.

The piece makes many good points. The main one: High unemployment and economic uncertainty are holding back the market, despite low interest rates and home prices. People are afraid their new homes will lose short-term value. People are afraid they’ll lose their jobs during that short-term period. People are afraid they’ll therefore lose their home and money if they commit to buying.

Despite all the rational reasons for buying now, there are equally rational reasons for many to hold back.

File under: Happy days are not here again — yet.