Nationwide Home Sales Collapse: There Is No Recovery and This Chart Proves It
March 20th, 2014
Now may be the best time to buy a home. At least that’s what the majority of real estate agents in America will tell you if you ask them how the housing market is doing.
They’ll cite various statistics and give you a “feel” for the market from their personal experiences to convince you this is the case. But if you’re paying attention, then it should be clear that there is, in fact, no recovery in the housing sector. And any gains we may have seen over the last few years are nothing short of a Federal Reserve fueled mirage, much like the stock market.
The following chart from Bank of America is indicative of some serious fundamental problems, not just with the housing market, but the broader economy as a whole.