[Mastador1]

We are having a huge housing boom, if by boom you mean vacant houses that the unemployed former owners had to leave.

[CowboyJay]

"We are having a huge housing boom, if by boom you mean vacant houses that the unemployed former owners had to leave."

There are plenty of people out there who've been living in their houses for 4 years or more without making a payment. My understanding is that in alot of areas the banks will not foreclose for fear of driving prices back down. Better to eat the losses on non-payments, than have to write down their entire portfolio. Still a huge backlog of delinquent beyond 180 days.

And the new starts are clearly in a bubble. There are more starts than mortgage applications by a pretty wide margin right now. Bubble Jr. is here.

[Wyatt's Torch]

We are having a huge housing boom, if by boom you mean vacant houses that the unemployed former owners had to leave.

Not exactly as vacancies are down significantly and are the lowest they have been since 2007: