The impetus for exploring the burst of the 2006 American Housing Bubble came from the personal effect the market collapse had on me and my family. My part of the US (S. Florida) was hit particularly hard, with my hometown (Fort Myers, FL) leading the nation in mortgage defaults… This fiscal disaster has been more damaging than most of the natural disasters that have hit this region in my lifetime, and this data visualization is an attempt to convey the perverse distortion of the home, from nest-egg to toxic asset over the decline of the housing market.
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This process video shows the way I manipulated a digital house to reflect the decline / malignant growth of the American housing market from its peak in 2006 to its current index value today. The iterative deformation is based on the S&P/Case-Shiller House Price Index, a national standard for gauging the state of the residential real-estate market. The 20-City composite index shows quarterly values calculated through the volume of repeat sales of single family homes. The second quarter of 2006 held the all-time historic high for the market, the apex of the housing boom, and was followed by 12 straight quarters of collapse. The past 8 quarters have begun to stabilize, and are currently trending around the 2003 index rates.
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The percentage of change from quarter-to-quarter determines the strength and distribution of the forces from attractor point. A drastic decline (roughly 9% change) pushes the attractor threshold to its maximum strength, and thus effects a larger number of mesh points by a magnified offset. Less drastic declines (1% – 3%) lower the threshold value to effect more localized points by a weaker offset. For the quarters that show slight growth, the attractor is brought to the centroid of the house to choose the points least modified to begin to smooth the roughed surface.
Screengrabs while exploring form generation/deformation: