Yet More Cheery Housing Charts Posted on January 30, 2008 by Yves Smith Sometimes a picture is worth a thousand words….does that mean two are worth two thousand? From the Businomiics Blog; the underlying data comes from the Census Bureau. While local markets don’t always conform with national patterns, this is another confirmation that a housing recovery is not just around the corner. Post navigation ← Non-Borrowed Bank Reserves Now Negative (Updated) Links 1/30/08 → Subscribe to Post Comments 5 comments doc holiday January 30, 2008 at 1:30 am Yves, Nice to see a link for you at Wall Street Journal – MarketBeat Blogs We’re Reading: Naked CapitalismFinancial ArmageddonFundmasteryVinny CatalanoBlog of Market Psychology Keep up the great work on these stories, your one of the very best resources around these days! Steve Diamond January 30, 2008 at 1:45 am well the first chart looks strangely reminiscent of the housing price charts up until last year…when the new price highs hit a top and started tumbling…what is good for the goose, right? So shouldn’t we expect a reversion to the mean for homeowner vacancy rates, too? RK January 30, 2008 at 7:54 am Yves:I read an interesting linkage developing between the bursting housing bubble and a segment of commercial real estate- apartment complexes. The high level of undocumented workers in construction during the boom are now being laid off and are leaving. They were by and large renters. In addition, the recent state restrictions on RENTING to undocumented people are having the same effect. The result is that many of these complexes are hollowing out, and turning cash flow negative. Anonymous January 30, 2008 at 9:33 am The first chart, “Homeowner Vacancy Rate” appears mislabeled on its Y-axis. Shouldn’t it be “Percent of all Homeowner Units”, not “Percent of all Rental Units”? Bill Conerly January 31, 2008 at 12:42 am Anonymous is correct about the mislabeling; sorry; my bad.Bill Conerly, businomics.typepad.com Comments are closed. Tip Jar Please Donate or Subscribe!