I’ve been relentless in my blog / twitter posts that – contrary to fluff predictions – US real estate was nowhere near a recovery. Why? I don’t need charts, graphs and stats to tell me
- Americans are either broke or sitting on their cash.
- Americans don’t have access to credit
- “Shadow” Inventories Aren’t Very Shadowy (my word)
- Americans aren’t stupid and are not buying into US government fluff statistics
What I do need a chart for is to illustrate the proof is in the pudding. US real estate continues to remain in trouble – and god help homeowners if the Fed doesn’t come through with QE3.
Courtesy of BusinessInsider.com