10 important real estate charts showing no housing recovery in 2010.

[eridani]

Collapsing housing starts, Texas Ratio problems, construction spending at trough, and real estate equity evaporated.

http://www.doctorhousingbubble.com/10-real-estate-charts-texas-ratio-pending-homes-sales-showing-no-recovery-in-2010/

The housing market has been turned upside down with unprecedented amounts of government intervention that even the seasonal pattern has changed. Keep in mind that spring and summer are usually the most optimistic selling times in any given year but this year with the tax credit ending and the Federal Reserve done buying up mortgage backed securities, the housing market will face weaker conditions in summer. The amount of noise floating out in the current market is deafening. How is it possible to have a market that is getting better when unemployment in many top housing bubble states remains at peak levels? In California unemployment remains at 12.6 percent (a modern record high) and we have over 100,000 unemployed Californians that have now exhausted a stunning 99 weeks of unemployment benefits.

This is happening all over the country. There was a recent article showing that 40 percent of those employed nationwide are currently working at low paying service sector jobs. Will these people bring on housing boom 2.0 with Wal-Mart wages? Today we’ll be looking at 10 charts that show us a very clear picture of the nationwide housing market. What we find is the housing market is anything but steady. From Alt-A and option ARMs to strategic defaults we are dealing with trends we have never seen before.

[Hawkowl]

1. The FIRE economy can't burn without fuel

Stocks, insurance and real estate need either credit or real income (wages) to rebound. We will have neither and the FIRE will extinguish.

[eridani]

2. Good analogy. Can I steal it? n/t

[saracat]

3. Shhh. Pay no attention to that man behind the curtain.

I don't think are are in Kansas anymore, Dorothy.

[Taitertots]

4. Housing prices shouldn't "recover"

It was a bubble then and the drop is a return to normalcy. We should be more concerned with moving forward than going back to bubble economics.