Content By: The Coming Depression Editorial Staff (dates cited below)
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Bank Owned Sign on House in Foreclosure

“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.”

The whole economy is in a depression, if you take out the unemployment benefits and the student loan program. Realize the first depression didn’t have 5 trillion of new government spending. We are really 10 times worse than the first depression. Illegals have replaced our work force, along with outsourced jobs. Pull out the flood of taxpayer money , then you could see how bad off we really are now. Local government will have to raise taxes by 100 to 400 percent, in the near future, to keep this boat floating. The Federal government will do the same with a VAT tax.

Alll these people losing their homes were all told in the 1990’s,by the media,mortgage companies and real-estate agents that they were missing out if they did not buy a home.They were all sheep being led to slaughter.Real estate shows on U.S. Am radio,sponsored by home loan companies and real estate companies,were all the rage a few years ago.Everyone involved made a killing.The suckers who fell for it and are now under water with there mortgages,were in a way served up a form of B.S otherwise known as propaganda.Walking away from a home,which now is worth half of what they paid for it,is acceptable in my opinion.

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.

Indeed, the US economy will cannot recover without good paying jobs. The irresponsible financial policies of the American administration will lead to the collapse of the US dollar. Canada’s economy will feel the repercussions, this recession will become a depression. The conditions will be right for the formation of the North American Union, and the introduction of the Amero. The US Fed and their newly structured banking corporations will control the money markets of the newly formed Union. as well as the entire world. We will be paying carbon taxes on every item we purchase, energy, medicine, clothing, building materials, appliances, automobiles, electronics, and even food and water. These world wide taxes will be collected by the new banking empire, the New World Bank. This is the Neo-Con agenda, and it is right on course. The writing is on the wall.

Housing Market Slips Into Depression Territory by CNBC (1)

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.

References:

(1) Housing Market Slips Into Depression Territory

This entry was posted on Wednesday, January 12th, 2011 at 7:49 pm and is filed under All Posts, Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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