Trulia Pushes The Panic Button As Young Adults Refuse To Move Out Of Parents' Basements, Get Jobs | Zero Hedge

Trulia Pushes The Panic Button As Young Adults Refuse To Move Out Of Parents' Basements, Get Jobs | Zero Hedge: "Below, courtesy of Bloomberg, is the summary of what Trulia chief economist Jed Kolko wrote in a note.

Census 3Q homeownership, vacancy survey shows household formation “alarmingly slow,” vacancies “remain stubbornly high,” Trulia chief economist Jed Kolko writes in note.
"Slow household formation number is one of the most alarming housing indicators to come out this year"
Share of millennials living with their parents rose to 31.6% vs 31.4% y/y
Household formation 380k in yr leading up to 3Q vs L-T “normal” increase of 1.1m
No increase over past yr in young adults moving out of parents homes or getting jobs is “most worrying”
Vacant homes still pose “problem” for recovery
53% of vacant homes were held off mkt in 3Q, highest share since before bubble
10.2% of all housing units are vacant, unchanged y/y, higher than pre-bubble level of 8.9% in 3Q 2001


And yet:

Oct. Trulia price, rent monitors show asking prices rose 0.6% m/m in Oct., prices up 11.7% y/y, rents up 2.7% y/y"

This is how you pump a market...in this case it's the fudged Govt. data working in concert with realtor organizations, herding the uneducated, TV watching, BS data believing; lemming-like public to the cliff. And when it crumbles they will all wonder why and how it happened.
And the Govt. will step in and create yet another pseudo- regulatory body ( think CFPB) whose apparent job it'll be to punish the evil shepherds ! But whose real agenda it'll be to create revenue via fines and law suits; for a busted Govt; with a constituent group of citizens who have no money to pay in taxes, no jobs and no immediate prospects of getting one.


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