With the NAHB, NAR, and every sellside analyst going all in on the latest iteration of the "housing recovery" (with self-reported confidence now back at 2006 levels), which with the economy failing to gain traction as a result of trillions in now open-ended and largely futile episodes of monetary easing, is the last gamble for a broad economic recovery, even if it means recreating the housing bubble of 2007, here is some "housing recovery" perspective courtesy of the following infographic from Bloomberg.
For full interactivity, click on the image below.
On the block of Hazelwood Road in Memphis, Tennessee, where Rebecca Black used to live, 17 out of 30 parcels have either been completely reclaimed by nature or have houses that sit empty. Five of the 15 parcels on her side of the street were abandoned after the recession ended, public records show. Many of the deserted properties are still legally owned by the mortgage borrowers. Nine of the properties are behind on taxes owed to the city or county governments, or both, public records show.
"Housing recovery" - hope vs reality...
Then again, perhaps all it needs is some incentives: