Seems a little rosy-colored 2010 outlook to me given Mecklenburg’s continued employment woes. Basically dependent on the government to continue to prop up housing prices — and hence consumer access to spendable credit — via artificial means.

And whoops what do you know, Bloomberg reports that the feds are scrambling to stop underwater mortgage holders from walking away from over-valued homes. The tax implications of such loan re-workings continue to escape analysis.

Oh, and nationally sales of new homes in 2009 declined to the lowest level ever recorded.