There actually is good news in this chart. Completed houses are running at all time lows. The US was completing about 1mm houses a year during the previous troughs in 1990 and 1982. The country has been hovering around 600k units since the financial crisis, and the country is much more populous than it was 20 and 30 years ago.
We may not have entered a recovery, but these low rates show that we have hit a bottom. When we hit a recovery, I cannot say.