Harsh Realities about the Housing Crash

For years Max has been warning that the flood of foreclosures and resulting crash in the housing market would last longer than the optimistic predictions we heard from politicians and the mainstream media. 

This list of 27 statistics regarding the housing crash on The American Dream illustrates just how bad things are today. 

A few highlights:

#3 As of the end of 2010, 23.1 percent of all U.S. homeowners with a mortgage owed more on their homes than their homes were worth.

#9 In total, approximately 11 percent of all homes in the United States are currently standing empty.

#15 The number of homes that were actually repossessed reached the 1 million mark for the first time ever during 2010.

#26 According to Zillow, U.S. home prices have already fallen further during this economic downturn (26 percent) than they did during the Great Depression (25.9 percent).