Monday, May 09, 2011

Declining American Home Values Evidence Depression

According to Zillow, the median value of a home in the US declined from $240,000 to $169,600 between April 2006 and March 2011. The aggregate decline in home values totalled approximately 29% for the five-year period.

Society needs to come to terms with the facts: US home values have been steadily declining for the past five-years. The continuing collapse of real estate values in the US provides clear evidence of economic depression in America.

Source: Zillow

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1 comment:

Siloo Kapadia said...

Deekra (dear), we are taking a (small) loss on our house so we can sell it and get the hell out of this place. My husband has received an offer for a "permanent" position in Singapore and we are pulling our children out of school and taking them for good. And we are shocked that we are not the only ones. he has been trying to get a position in India, Singapore, Hong Kong, and it has been so hard as so many other Americans, including Indian Americans such as ourselves, are desperate to get out. So we are glad to take a loss and get out. We worry about not only ourselves but our two boys. If the future is bad for us now it will be all that much worse for them.

So all this talk of a recovery is all a lot of bilkul gora nu caca (complete horse manure). Just a lot of damned lies. We have seen America going down since the 1990s. A shame but true. Thank you for your great posts.

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