Monday, November 24, 2008

It's going to get worse before it gets better

If the U.S. economy affects you in any way (and how could it not) then this article on the still collapsing housing market should send a chill down your spine. I was especially stricken by the following statistic:

Of the homes that did find buyers in October, nearly half were the result of a sale after a foreclosure.

Any way you slice it, that's pretty grim. I'd hate to be trying to sell a house right now.

1 comment:

cyclotourist said...

Ah fuck... I just hope to pay off my credit cards before I lose my job...

Do you read this: http://jameshowardkunstler.typepad.com/clusterfuck_nation/

Do I just slit my wrists now?