ML-Implode News - Housing Inflation Ain't Recovery (Stunning Chart!)

Let's call a spade a spade, please. What we have here is housing "inflation," hardly housing "recovery." Housing prices are rising 10-15% per year, but nobody in the media is calling it what it is. There's a wall of silence.
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Prices have risen 10% in the past 12 months and 18% in the past two years while new home demand and construction has barely moved off historic lows. As for employment in the home construction, it remains dead. ZIRP and subsidized mortgages have caused gross distortions in the housing market that fool people into thinking that there's some kind of fundamental recovery under way.

Relevant:

Housing Inflation Ain't Recovery (Stunning Chart!) | The Wall Street Examiner