ECONOMIC COLLAPSE 2012 - Housing Price Collapse





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Published on Aug 8, 2012

Are you prepared for Economic Collapse?

A sure sign of economic collapse in the year 2012 and further into this decade is the catastrophic drop in home prices from the peak of the housing market in 2006 and 2007. The peak of the market varies in different places around the country, but in the United States as a whole, the peak was sometime around May of 2007 with a median home price at $194 thousand. That price has since dropped nationwide approximately 24% to $149 thousand, but for specific areas, the price drop has been devastating.

When we look at areas such as Orlando Florida and Las Vegas at Zillow.com which I link to below, we see huge drops on the order of homes losing 55% of their value in Orlando and a whopping 62% of their value in Las Vegas Nevada. That means if you had a $300,000 home in Las Vega in March of 2006 that home is now worth $114,000 right now. And if you had a $258,000 home in Orlando Florida in July of 2006, your house is now worth $117,000 today.

Home prices may be at the bottom or near it in some places after the housing bubble burst and have come up a little in some locations, but what we are talking about here is a major investment many people made 5 to 6 years ago that has not gained in value, but instead has lost 50% of its value and up to 62% of its value in some locations.

This was money and equity that past generations used to retire on and have for their golden years, but all of a sudden this major investment may likely never produce any equity for those that want to retire in the next 5 or 10 years.

That's just one more sign of economic collapse we are looking at straight in the face in this country and this is happening all over the world as well.

Zillow Home Value Index for US, Orlando and Melbourne Florida



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