Who hasn’t dreamed of shipping their folks down south for the remainder of their “golden” years? I know I have! Unfortunately with the current state of the economy, we’re all too happy simply keeping a roof over our own heads. Until now…
“Today’s chart is pretty self-explanatory. It’s the price of a single family house (with data from RedFin) in Palm Springs, CA. Watch it do a round trip from 2001 to 2009. The dip started in 2008, and we took a stab at what that buyer was probably thinking. (via PlanetMoney)” continue reading...
Consumers are not buying homes, because they expect house prices to be lower one year out. Not surprising, when you consider that home prices have fallen in 80 cities.
It’s not just housing anymore: shoppers fear buying prepaid gift cards from retailers due to the threat that they might go broke. It’s more than a threat: Circuit City has filed for bankruptcy. continue reading...
The Dr. speaks:
- The U.S. will experience its most severe recession since World War II, much worse and longer and deeper than even the 1974-1975 and 1980-1982 recessions. continue reading...
