Since the depths of the recession, key aspects of the economy have rebounded. The nation’s output has grown. The stock market began an ascent.
The unemployment rate drifted down.
When it comes to the value of what many Americans consider their biggest financial asset, no such return appears in sight.
Data released Tuesday showed that seasonally adjusted housing prices have reached a post-bubble low, as the minor surge that began in 2009 fizzled, to be followed by the almost continuous slide of the past 18 months.
The housing bust, in other words, appears to be even worse than it was at the nadir of the recession.