12 Depressing Facts About The Massive Housing Slump That Just Won't End

Leaning apartment building epitomizes falling housing prices

Photo: Håkan Dahlström

The data on the 2010 housing market is in, and it doesn’t look good.High unemployment, record bankruptcies and dropping prices are just a few of the issues nagging home sales. Thus 2011 might not be the year the recovery finally comes.

In the fourth quarter of 2010, Americans bought 63 times more iPads than they did homes

Americans bought 65,000 new homes in this time period, the lowest total in decades.

Meanwhile they bought 4.19 million iPads.

December 2010 new home completions were the lowest since 1975

Source: U.S. Census

12 months from today, an estimated 20 million people will be underwater on their mortgages. That's 28 per cent of all homes

Source: AOL Real Estate

At the peak, you could get a home with a credit score of 550. Today you need 760 or higher

Now used by Transunion and Experian, VantageScore 2.0 ratings are based on consumer credit behaviour from 2006 to 2009. Described as a more accurate indicator of risk, scores range from 501 to 990.

2010 foreclosure filings were up 23 per cent from 2008

Source: RealtyTrac

There are 5 million delinquent loans not yet in foreclosure -- which are projected to drive foreclosures 20% higher than they were in 2010

If home prices return to the 60-year trend line, they've got a long way to fall

Despite recent deleveraging, Americans still carry historically ridiculous levels of debt

100 million Americans think buying a home today is a bad investment

Source: UPI.com

14 million more people are unemployed today than at the height of the housing boom (POTENTIAL HOMEBUYERS LOST)

Source: Global Finance

The end of the first-time homebuyer tax credit resulted in a 30 per cent decline in applications -- despite record low mortgage rates

Including shadow inventory, it might take 44 months to get through the glut of homes on the market

Source: CNN Money

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.