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13% of all U.S. Homes Are Vacant

Mar 31, 2011

Housing prices are back to they were about a decade ago in major cities across the US.

“The chart below shows that we have now reverted back to price levels where housing markets launched into their vertical 3 year price rise.
What we have yet to erase is the excess speculation from the 2002 to 07 mania. Until that gets wrung out of the market, I doubt you will see a healthy Real Estate sector. That will only take place through a combination of lower prices, better holders and the elapsing of time.
The good news is that is happening. The bad news is its a slow painful slog . . .”

The Big Picture

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