I’ve read an article at econbrowser, which claims that housing market is probably stabilizing. I’m afraid that this respectable source is very confused. The facts do not show any signs of housing stabilization whatsoever.
I’d prefer to avoid any speculations or deductions here, because it’s sufficient to look at raw numbers to see the housing in freefall with a naked eye:
- Prices are crashing. Source: http://www.housingtracker.net
- Mortgage lenders are bankrupting. Source: http://ml-implode.com
- Mortgage credit default swaps are collapsing. Source: http://www.markit.com/information/affiliations/abx
That’s it, no words, only facts