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US Housing Crisis Is Now Worse Than Great Depression
Posted By admin On June 15, 2011 @ 3:19 am In Money Watch | Comments Disabled
June 15, 2011
It’s official: The housing crisis that began in 2006 and has recently entered a double dip is now worse than the 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.
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URLs in this post:
 CNBC.com: http://www.cnbc.com/id/43395857
 the Federal Reserve considers whether the economy has regained enough strength: http://www.cnbc.com/id/43391458/
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 Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/
 Housing Slump Worse than the Great Depression: http://www.prisonplanet.com/housing-slump-worse-than-the-great-depression.html
 The “Current Housing Recession is Rivaling the Great Depression’s Real Estate Downturn [and] Will Easily Eclipse It In the Coming Months”: http://www.prisonplanet.com/the-current-housing-recession-is-rivaling-the-great-depression%e2%80%99s-real-estate-downturn-and-will-easily-eclipse-it-in-the-coming-months.html
 More Economists Say Crisis Is Worse Than Great Depression: http://www.prisonplanet.com/more-economists-say-crisis-is-worse-than-great-depression.html
 Nobel Prize Winning Economist: Crisis As Bad As Great Depression Or Worse: http://www.prisonplanet.com/nobel-prize-winning-economist-crisis-as-bad-as-great-depression-or-worse.html
 The Crisis Is Imminent: “When The Real Crash Comes It Will Be Worse Than the Great Depression”: http://www.prisonplanet.com/the-crisis-is-imminent-%e2%80%9cwhen-the-real-crash-comes-it-will-be-worse-than-the-great-depression%e2%80%9d.html
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