Want to get a good big-picture feel for the housing market? Jonathan Miller points us to Harvard University’s The Joint centre for Housing Studies “The State of the Nation’s Housing” report for 2009, which is chock-full of pretty, multi-coloured charts on housing.
These charts really stuck out, particularly in light of feared OptionARM resets (and the higher monthly payments that entails). They show, pretty clearly, that households with higher housing outlays are forced to cut back on all kinds of things, in some cases pretty dramatically, on basic needs like food, transportation and healthcare. Seemingly obvious, but also a reminder of the impact higher home prices have on spending.