Thursday, July 23, 2009
Both of these charts suggest we've seen the worst of the housing crisis. Existing home sales are picking up after being very depressed, most likely because prices are down, and financing is relatively cheap. The inventory of unsold homes is falling, even as foreclosures rise, a sign that again, homes are more affordable. And the second chart reminds us that the housing slump, by this measure, was worse in the early 1980s.
Posted by Scott Grannis at 1:07 PM