US Housing Crisis Is Now Worse Than Great Depression
Prices have fallen some 33 percent since the market began its collapse, greater than the 31 percent fall that began in the late 1920s and culminated in the early 1930s, according to Case-Shiller data.
The news comes as the Federal Reserve considers whether the economy has regained enough strength to stand on its own and as unemployment remains at a still-elevated 9.1 percent, throwing into question whether the recovery is real.
“The sharp fall in house prices in the first quarter provided further confirmation that this housing crash has been larger and faster than the one during the Great Depression,” Paul Dales, senior economist at Capital Economics in Toronto, wrote in research for clients.
According to Case-Shiller, which provides the most closely followed housing industry data, prices dropped 1.9 percent in the first quarter, a move that the firm interpreted as a clear double dip in prices.
Moreover, Dales said prices likely have not completed their downturn.
If the United States does not continue to spiral into the pit of oblivion and appears to be on the rise, Yahweh has set an hourglass that will run out for not just Satan and his followers, but everyone and everything within this reality. Everything will be completely obliterated out of existence. We have received the warning from Her, and we are diligently continuing to try and bring to bear Her prophecies before the hourglass runs dry.