30 Must-See Charts on Housing

Michael David White of HousingStory.net posted thirty charts that paint a bleak picture for residential real estate for the foreseeable future. White calls it "overwhelming and obvious evidence of a 5-alarm housing crisis."

A Silent Radioactive Sky Is Falling On Your Home

Add to this the second lien problem (Yves Smith explains here) resulting from HELOC's and using houses as ATM's. Many creditors holding these loans are out on a long limb high off the ground, ground which is littered with broken glass. The banks are hell-bent on not getting stuck with the bill, so that leaves homeowners and Uncle on the hook.

What this means from the MMT/Minskian point of view is that Ponzi finance is still in the implosion stage, with considerable deleveraging yet to come and still falling housing values threatening debt-deflation.