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Isn't this wonderful news...NOT...US house price fall 'beats Great Depression Slide'

The ailing US housing market passed a grim milestone in the first quarter of this year, posting a further deterioration that means the fall in house prices is now greater than that suffered during the Great Depression.

The brief recovery in prices in 2009, spurred by government aid to first-time buyers, has now been entirely snuffed out, and the average American home now costs 33 per cent less than it did at the peak of the housing bubble in 2007. The peak-to-trough fall in house prices in the 1930s Depression was 31 per cent – and prices took 19 years to recover after that downturn.

http://www.independent.co.uk/news/business/news/us-house-price-fall-beats-great-depression-slide-2291491.html

And why are the UK papers printing this and not our papers??

Answer Question
 
DSamuels

Asked by DSamuels at 7:20 PM on Jun. 4, 2011 in Politics & Current Events

Level 32 (56,906 Credits)
Answers (54)
  • Well, that is bad news! As for the papers in the UK printing this story and the US, I personally think it's because the media here is not exactly honest. The media typically has a side that they are on, and by telling this story, their side would be mad.
    A.Perry

    Answer by A.Perry at 7:40 PM on Jun. 4, 2011

  • You think it's bad now? We are on the verge of a debt supercycle. When debt owed yearly is going to be more than the gov can take in.
    Carpy

    Answer by Carpy at 7:43 PM on Jun. 4, 2011

  • If our media printed this, the admin would have to act because the general population would panic. Some of us are (and have been) paying attention, but a great many are not. Too many actually believe that things are getting better.

    It does make me wonder just what sort of gov't. response is planned for when the panic DOES hit.
    Farmlady09

    Answer by Farmlady09 at 7:58 PM on Jun. 4, 2011

  • It does make me wonder just what sort of gov't. response is planned for when the panic DOES hit.

    Whatever it is, I bet it won't be good. Probably downright scary!
    DSamuels

    Comment by DSamuels (original poster) at 8:22 PM on Jun. 4, 2011

  • Media.. Really? We have gossip columnists not real media. Every time I pop over to MSNBC all I hear is them trashing one
    Republican or another.. LOL Always makes me smile
    itsmesteph11

    Answer by itsmesteph11 at 8:38 PM on Jun. 4, 2011

  • DSamuels, when the whole pandemic flu thing was being touted, I told me AF son to send the DIL and grandbabies to me if it actually took off and initially he giggled a little. He stopped giggling when he get handed the base plan that he (as security forces) was going to have to implement and enforce. That plan authorized taking food from homes/dependents in base housing as well as the surrounding city to keep the military active and functional. Now, I tend to agree with that myself ~ but it wouldn't stop me from caching food underground ...

    I would imagine that any plans to handle that sort of panic (especially if checks, FS, etc. were stopped), would be any less harsh. Anyone who believes the military wouldn't be used is deluding themselves.
    Farmlady09

    Answer by Farmlady09 at 8:43 PM on Jun. 4, 2011

  • I would imagine that any plans to handle that sort of panic (especially if checks, FS, etc. were stopped), would be any less harsh. Anyone who believes the military wouldn't be used is deluding themselves.

    Oh I agree! My first thought was martial law. I know the conspiracy theories were that Clinton would call for martial law and suspend elections to stay in office, then they said Bush would do it, but neither did. Do you think Obama would do it, or is that too out there?
    DSamuels

    Comment by DSamuels (original poster) at 8:49 PM on Jun. 4, 2011

  • I don't know what Media YOU guys are talking about but most of us KNEW that when the Foreclosures started happening in 2007 that THIS would be the result. And this information has been out there for years. Realtors KNEW the prices would bottom out and they also knew that housing will not recover even a little bit for another 4 or 5 years. I know a few intelligent realtors who have known this and their information has been published. If you were paying attention, you would KNOW this and not think that only the UK will talk about it.The big housing bubble has burst and the housing market is READJUSTING. The prices between about 2001 and 2008 were extremely inflated and they couldn't last. Big surprise? Nope.
    minnesotanice

    Answer by minnesotanice at 9:08 PM on Jun. 4, 2011

  • I guess all the liberals are tired of defending him and all his unexpected troubles with our economy. Where's the lady that thinks we should give him ten years before saying omg he is the failure we thought he would be.
    Anonymous

    Answer by Anonymous at 9:09 PM on Jun. 4, 2011

  • I don't think our military has enough man-power to handle trying to keep Obama in office if he cuts off FS or other benefits, even if he were to seriously consider such a thing. I'm not certain that he wouldn't use such an event to try and delay an election ... but I wouldn't be surprised at any of our elected officials doing that at this point.

    And, to be honest, I'm not sure that our military has enough man-power to keep him in even IF things are still holding together. Too many of them are just counting the days for him to move on so as it is, not to mention the number of combat troops that are deployed. I 'might' give it a second thought if just before the election all of our troops end up stateside ...
    Farmlady09

    Answer by Farmlady09 at 9:16 PM on Jun. 4, 2011

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