“At their worst peak, condos were at a 17 month supply. Detached housing was at a 14 month supply,” Hunt said. “Now both are at five months.”

Because of all the foreclosures and because of difficulties related to buying and selling homes, Hunt said that there’s been a “massive shift” from home ownership to renters.

Prices still are far from their peaks. Hung said that of the homes that were sold in the last 12 months, about 25 percent were sold for less than $50,000.

This hasn't had an impact where I live yet.