What does "the US Shakeout" mean in?

Question

Investors may look to the home sales numbers for clues on the depths of the housing slowdown. "The only questions insofar as the U.S. shakeout is concerned—and they are obviously quite important questions—pertain to the extent of the post-bubble downside in housing markets and the broader macro impacts of such a development," notes Stephen Roach, managing director and chief economist at Morgan Stanley.

Answer 1

Roach thinks there will be a 'shake out' of investment buyers and others who have climed on the house-buying bandwagon but are not really needing to live in what they own. It's a term borrowed from the stockmarket where a "bear market" (prices falling) "shakes out" (scares off - or cleans out) speculators who were betting on prices rising and in time most everyone else except long-term investors.