Wednesday, January 12, 2011

Mainstream News: It's A Housing Depression

As the economy revs back to life, with signs of hiring on the horizon, the housing market is being left behind like Macaulay Culkin in “Home Alone.”

In the past few years, we’ve all been careful to choose our words carefully, not calling it a recession until it fit the technical definition and avoiding any inappropriate use of the “D” word — Depression.
Things were bad but the broader economy never reached Depression territory. The housing market, on the other hand, just crossed that threshold.
Home values have fallen 26 percent since their peak in June 2006, worse than the 25.9-percent decline seen during the Depression years between 1928 and 1933, Zillow reported.
November marked the 53rd consecutive month (4 ½ years) that home values have fallen.
What’s worse, it’s not over yet: Home values are expected to continue to slide as inventories pile up, and likely won't recover until the job market improves.
And while the president is physically protected in an emergency, whisked to a bunker at an undisclosed location, the actual White House is not: The value of 1600 Pennsylvania Avenue has dropped by $80 million, or nearly 25 percent since the peak of the housing boom. It’s current value is $251.6 million, according to Zillow, down from $331.5 million.
Oh-h say can you see … by the dawn’s ear-ly light …
More Here..

The Big Bubble: 1 House in Vancouver = 34 Houses In Newfoundland


  1. LOL. After reading the first line of this crap article, was I right for thinking it is indeed a crap article?

    Fucking moron whoever wrote this. Excuse my vulgarity, but this is ridiculous. What an idiot.

    The economy is not showing any signs of coming back, it is only getting worse and worse. EVERYTHING ABOUT IT IS GETTING WORSE!

    Thanks though for noticing the housing market is doing worse than before. I'm sure this might benefit the brain dead CNN viewers who just read their new issue of Wallstreet Journal and can't understand why the advice given from last week's issue didn't make them any money.


  2. By the way pal, we've already been in a depression.

  3. The economy is improving?

    I was jobless for 2.5 years. About 2 months ago I finally landed a job, guess what? I've been asked to take a week or two off, till "things pick up".

    till things pick up...

    I was in Sam's Club today and I noticed the big container of black pepper (restaurant size) was $22.00. I bought one of these for my stash last year for a little under nine bucks. They had 3 liter cans of olive oil for $9.00. I bought two. In no time this same item will be $45.00.

    It's not gonna get any better folks.

    till things pick up...

  4. It depends on who you ask it seems - all of our car mfg say sales are up; way up; Alcoa says sales are up, way up. Ask anybody in the natural gas field- things are bloody booming.
    I went to purhase my yearly allotment of silver eagles - the damn mint is run out of silver sales are so strong. Gun mfg can't keep up and new orders for '11 fertilizer are thru the roof.

    Meanwhile, those engines that are responsible for employing so many are what I call depression zone and the big one is housing as there are just so many that are indirectly affected by this market

  5. "signs of hiring on the horizon"...always on the horizon..always down the road lolol
    stats out lately and today..temp workers and part time lower pay less or no benefits etc etc..

    car sales are up in china, they just surpassed the US, and india some too, GM and ford, GE, CAT, Dell,Mcdonalds and many others are opening factories there, also the new trade agreement with S. korea will be great for...them lolol

    we can't have factories anymore, too polluting, and we ask to much in pay so...china and india have alot of new malls, but nobody goes their as the factory workers make to little, yet more and more multinationals opening factories there and will pay low wages, the malls are make work construction jobs and make good camera ops for the mayors just like we did and..well that method failed, but even at low factory wages for them it's better then before-farming. so as they rise a little we drop alot, the multinationals make like bandits and we can go back to more farming

    I actually like farming so already have a leg up on some

    we can sell assets though, wyoming coal is up for sale and china wants it so their going to expand some ports to ship it out


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