People are increasingly willing to say that the U.S. housing market has bottomed. And many also argue that it is a key driver of strength in the U.S. economy.

However, there are also plenty of economists that remain skeptical.

One such economist is Gluskin Sheff's David Rosenberg.

Rosenberg acknowledges that the housing data has turned up significantly. But he notes that most of those metrics have cracks.

And even if the bottom is indeed in place, there are "powerful offsets to the ballyhooed real estate revival," he writes.

What follows are Rosenberg's comments and criticisms of the recent housing market data.

NOTE: Thanks to Gluskin Sheff for helping us with this feature.