I saw the following information at the Survival Blog of James Rawles and found the articles interesting and wanted to pass them on.
I have been warning friends and family alike that this is coming ever closer, a collapse of the commercial real estate market. There are thousands of commercial building that are empty or devalued and still have mortgage payments due on the older higher value. The piper is calling on these properties much like the residential real estate bubble was burst. Read more about it here.
In the same vein, it seems that 1 in 5 home owners owe more for their home than it is currently worth. These home owners are more susceptible to defaulting on the loan. This brings us even closer to another wave of foreclosures and displaced families.
Finally, I saw this article on how society is going to be change due to long term, chronic unemployment much like that of the depression. This is really important as the current administration is saying that it might be several years before the job market gets better. The national unemployment average is around 10 percent. A quick count of our friends and family yields a 50 percent unemployment rate. When you read all this and reflect on what it means to you and the country, can you tell me how the economy can possibly be getting better, as promised by our government. How can it get better with the coming collapse of commercial real estate, another possible residential default wave and an unemployment situation that may span years?
More House Stuff
Five days and counting until our official close date on the property we are buying. Still no word from the bank on that "early" close they had inquired about. If you are looking to do some remodeling in your home, Lowes has a great sale going on the Sauder line of closet organizing systems. I mean really deep cuts. We bought an item that was normally 79 dollars for 18 bucks. We went back this morning and got more items for the walk in closet I'm going to build. We dropped 250 on this stuff. The before sale price would have been over 500 dollars. It's keeping your eyes open for deals like this that let you stretch your dollars. We went to the Kansas City Remodeling Show yesterday. We expected to get a lot of helpful information for all our upcoming projects, in actuality we were very disappointed with this years show. We also bought a gas range and dishwasher deeply discounted as Sears on Friday, an eleven hundred dollar range for 799 and an 800 dollar dishwasher for 671. Plus a 5 percent discount for applying for a Sears card. Now, we WILL NOT use the card but it did get us the discount that nearly paid for the sales tax. You gotta look for the deals to make it all work out.