The whole US housing recovery in one chart (XHB)

The housing recovery is about one thing: renters.

Via Deutsche Bank's Torsten Sløk, this chart tells the whole story of the recovery.

But the trend could look set to change: household formation is booming as Sløk asks if millennials are finally moving out of their parents' basement.

NOW WATCH: Nationwide's Super Bowl commercial about dead children is about corporate profits ... in a way that we can all appreciate

See Also:

• Men are going crazy for Lululemon's 'Anti-Ball Crushing' pants
• Legendary UNC coach Dean Smith left all of his former players $200 in his will for 'a dinner out' on him
• These are the cities where workers are getting priced out of the housing market