You cannot deny that housing is a bright spot for the economy. Starts were up 27% YOY. Existing and new home inventories declined to normal levels. Vacancy rates back down below 2%. Home prices increased for the first time since the financial crisis. Household formation for FY12 was around 1.4 million. Everything in housing is moving the right direction, albeit from a very low base after the collapse.
I have noticed no slackening in the number of home foreclosures listed in the legal section of the local newspaper over the last five years.
“Everything in housing is moving the right direction, albeit from a very low base after the collapse.”
Yeah, especially here in Chicagoland /sarcasm.