Are REOs ready for a comeback?

Are REOs ready for a comeback?

Clear Capital: Increases in distressed, seasonal changes suggest yes

Mortgage application defects keep rising

Michigan, Florida, Texas lead First American application defect index

Monday Morning Cup of Coffee: When will mortgage lending pick up?

Plus, more on the future of Fannie and Freddie
W S

4 maps show exactly what happened after the housing crash

And where the market is in this so-called recovery

Map of the United States
/ Print / Reprints /
| Share More
/ Text Size+

The effect on homeowners of the housing bubble and crash is pretty well reported.

But what about the big picture?

In 2006, the housing market crashed, and from 2007 to 2009, the value of real estate owned by households fell by nearly $6 trillion.

The economy in general hasn’t been doing too well since then – this is the longest it's ever taken to recover from a recession, if you want to call it a recovery – and there doesn’t seem to be any big boosts on the horizon.

Just last week mortgage rates hit a six-month low of 4.2%.

Job growth continues to disappoint, affordability remains an issue and sales of almost all single-family home types are weak. Mortgage applications are slow. Wage stagnation remains a challenge for both housing and for the economy in general.

Here’s a good look at how we got here, as seen in these four maps provided by VisualizingEconomics.

First the price stagnation:

Next, post bust housing prices.