PragCap: Your Housing “Recovery” in Charts….

Your Housing “Recovery” in Charts….

02/20/2013

The post Your Housing “Recovery” in Charts…. appeared first on PRAGMATIC CAPITALISM.

I’ve become much more constructive about housing in the last year.  But I still don’t understand the euphoria in some circles.  For the most part, I am still in the camp that says we’re in a post-bubble “work out” period.  That means the big price declines are past us, but the upside remains modest in most markets.

That said, I still don’t see the recovery in the various housing indices that many are raving about.  To me, this looks almost exactly like what I’ve been predicting all along.  A sideways market that is consistent with past bubble experiences.  Think Nasdaq, Shanghai, Gold in the 80s, etc.  In essence, it looks like a big L.

So far, the price action in US housing doesn’t look like anything that unusual for a post-bubble environment and it looks a lot more like a post-bubble “work out” than a recovery to me.  Obviously, I am biased towards believing that my view will be right, but you tell me what the pictures show….

Charts via Orcam Financial Group:

hr1 Your Housing Recovery in Charts....

hr2 Your Housing Recovery in Charts....

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