Glenn Beck has been coming up with some very nice charts that help put the current economic mess into perspective. When I say “very nice,” I wish I was referring to a solution, but, unfortunately not.
Watch this video about Glenn talking about the housing prices. It’s a great historical perspective on where housing prices have been and where they are now. The chart makes it easy to see why the housing market isn’t going to recover from this – if you define recover as 2006 prices. In truth, the housing market is trying to recover, but that means going back down to a sane level. It also means that if you’re currently in a home that’s upside down (current value is less than what you owe), you’re not likely to find good news here. It also means that as more and more people figure this out, foreclosures will, yet again, increase.
Keep prepping hard. Get what you need now while prices are still low. They may go lower, and if they do buy more, but we’re already starting to see prices creep up on certain goods (other than guns and ammo).