It's Now Obvious That Housing Is The #1 Threat To Torpedo The Recovery

Today RealtyTrac came out and said foreclosures were on the march higher again.

That follows other data reported by Diana Olick yesterday that housing was double dipping.

While other data looks decent, housing is still very bad, and it alone could torpedo the housing market.

Here’s the connection between housing starts and employment, via Calculated Risk:

chart

Here’s the connection between household wealth and savings:

housing savings

Get it? Housing affects everything, basically. If there’s no housing recovery, there’s no recovery.

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