Still Crashing: 2011 Was Worst Year Ever for Real Estate Sales

by | Jan 26, 2012 | Headline News | 118 comments

Do you LOVE America?


    While the National Association of Realtors says the real estate trend for 2012 will be one of “continued slow growth” as we saw in 2011, the reality is that there is no growth.

    It’s so bad, in fact, that 2011 was the worst year on record for home sales. You read that right. The worst year since records have been kept – a trend we warned of back in 2009 when green shoots were reportedly popping up all over the country.

    Fewer people bought new homes in December, making 2011 the worst sales year on record.

    The Commerce Department said Thursday new-home sales fell last month to a seasonally adjusted annual pace of 307,000. The pace is less than half the 700,000 that economists say must be sold in a healthy economy.

    About 302,000 homes were sold last year. That’s less than the 323,000 sold in 2010, making 2011 the worst year on records dating back to 1963.

    The median sales prices for new homes dropped in December to $210,300. Builders continued to slash price to stay competitive.

    Still, sales of new homes rose in the final quarter of 2011, supporting other signs of a slow turnaround afoot in the depressed housing market.

    Source: San Francisco Chronicle

    Millions of homes remain in the shadow inventory, prices continue to drop even with interest rates at historic lows, and jobs – the real driver behind the ability to purchase a home – don’t seem to be coming back, despite an unemployment rate that is officially on the decline.

    No matter how bad it gets, however, the corporate media’s cheerleaders will continue to try and convince us  otherwise.

    Homebuilders are slightly more hopeful because more people are saying they might consider buying this year. And home construction picked up in the final quarter of last year.

    Although this decline was unexpected, it does not change the story that housing has likely bottomed,” said Jennifer H. Lee, senior economist at BMO Capital Markets.

    Ian Shepherdson, chief economist at High Frequency Economics, said easier lending requirements, historically low mortgage rates and improved hiring all point to consistent, albeit slow, rises in sales in the coming months.

    “A sustained rise in new home sales is imminent,” he said. “Homebuilders say so too, and they should know.”

    People may be saying they might consider buying this year, but there is a difference between someone wanting to buy a home and having the ability to do so.

    Housing, as we have vehemently maintained since the onset of this real estate crisis, is not going to bottom any time soon. We are looking at a decade’s long, perhaps longer, collapse of the U.S. real estate market.

    Variable mortgage rates are going to continue to adjust upwards for those buyers who took them on in the midst of the boom, which means they will be paying more in monthly payments at the end of this year than they are today, putting even more strain on consumers who are quickly running out of savings and losing purchasing power for essential goods to monetary inflation.

    On top of that, there are literally millions of homes in shadow inventories – homes that have been foreclosed on that, for all intents and purposes, aren’t even counted as being in existence.

    Home builders are, naturally, going to say that a sustained rise in home sales is imminent. Does anyone really expect them to come out and say, “Hey, we’ve got a great house for you, but it may lose 20% in the next 18 months.” They will say whatever they have to say to make a sale.

    Since the initial meltdown in sub-prime real estate the financial pundits, economists and industry insiders have been telling us things would get better, that we’re just about to turn the corner. These are the same people who argued that the sub-prime fiasco was isolated to just that sector of the market.

    We now know that  the problems were much, much bigger than that, yet the most influential media outlets, like the Wall Street Journal who last year penned Why 2011 May Be the End of the Housing Crash, continue to ignore (probably by design) what’s really going on.

    Going forward, we may seem some positive real estate numbers, because prices don’t drop in a straight line. The long-term trend, however, is very negative for home values.

    To get an idea of how bad it can get, just look to Japan. From peak to trough, their real estate bubble saw a collapse of 75% over the ten years following the burst in 1990. They have still not fully recovered.

    We’re not immune to such a collapse. Expect the worst, because there is a strong chance this is exactly what’s coming.


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      1. Wow another mess.

        Y’all Beware!

        • I keep telling people that there will be another big wave of foreclosures soon, that we’ll see another big move down, but no one listens. They just laugh at me and say is “NOW is the time to buy! Prices are so low!”

          Which one of us is right?

          • Scott, like what Mac said ” it hasn’t bottomed out”. We’ll never recover as long as there are so many fed regulations (which keep increasing) that prevent employment and investments.
            I believe the belief is, that as more troops come home, they’ll be buying new homes. Problem is: there will be a military draw down.

            • BTO….brings back memories. Wait a minuet the 70s we’re good to me. If they were that good do I really remember them?

              Funny thing is I actually thought freedom was advancing back then. Boy, called that one wrong. Think of the shock if you went into a coma in 1975 and woke up a couple of months back and caught up on current events both domestic and international including the economy of both. WOW….”Hay Doc, can you put me back under”?

            • eeder

              Global warming with sea levels rising? I’m 8 ft above sea level with MAYBE 25 years left in me. I’ll ride it out here crazy as ever.

            • Good one Bloodyfellow. Its hard to believe I actually dressed like that and went to clubs and disco’s.

              Hell its hard to believe that was 38 years ago and I was that skinny too.

              While many of us did it all back then, sex, drugs, rock-n-roll, war and peace; most of us grew up and changed.

              We had everything against us; steel dashboards in cars, no seat belts, no bicycle helmets, lead paint, our parents drank and smoked during pregnancy. How did we ever survive???

          • Depends on where I imagine. Here in SW Florida nice homes in terrific shape close to the gulf can be had for 80/sq ft while the replacement cost is $187 sq/ft. Germans are buying many of them. I figure Florida will always have ocean, warm and sun. Those three must have some value.If things really go to hell I prefer being in a warm area.

            If the homes are dependent on employment in a given area be it Las Vegas or a manufacturing industry look out.

            • KEV2-I was blown away down in sw florida, How in the hell could the trinity network afford a building like THAT for their headquarters??

            • What a bunch of soul selling scamsters that trinity network is!! The churchs are licking the boots of this government also!

            • kevin

              I have no idea who or what they are. Hell we’re still trying to find places we need to go to. Haven’t been here too long.

            • kev2- A christian tv network. Their headquarters is high dollar. You will know what I mean once you see it, It is around st, petersburg some where!!! I highly recomend the glades and the keys!

            • kevin

              We’re in Cape Coral.

              Ahh…the Keys, the promised land outside of hurricane season.

              I distrust the high dollar religions. Getting rich off of old ladies social security is not moral.

            • hay kevin where r u?? im in fort myers

            • never mind just that u are in the cape im just down the road from ya

            • kevin 2
              yes florida will always have ocean warm and sun. the problem is it wont always have land! it will be all ocean.anyone who buys land in florida or who spends alot of time there is certifiably insane in my opinion…. i would not want to be in that area when it hits.

            • kevin2
              its not global warming … it will be the wrath of god against lucifers children… the sons and dsughters of zion…. im not sure what you are…. accept a very dangerous man… to yourself and others.i imagine you either support Newts space dreams or Barack Obams evil communist agenda. you certainly are not making sense to me sir.

            • Kevin2, you think you want to be in Fla. when it all goes down. The houses down here are built for AC. With no power or bug and vermin exterminators, Florida will quickly revert back to the swamp it was intended to be. People will die in Fla. faster than any other state. And there will be the August stench of rotting corpses. The original people that settled Fla were a very tough breed. That breed has been long gone for the last century. This place will be a living hell.

          • NOT YOU !!!!!

            • Trinity, TBN or whichever name you wish to give the beast, is a Very Well funded agency with many on the Tel Aviv payroll, and those suckers have an agenda at foot. Purposely leading Christians in circles with “feel good” religion and money making are their goals. I see in the future all the so-called Televangical networks working very closey with the existing and future Govrnments to keep us all sedated. IOW, another one to add to the list of on-going targets that are poising to ruin this Country.

            • RICH AND KEVIN2

      2. someone needs to get this information to the POTUS before he fucks up and talks like he knows WTF is going on..

        It really insults those of us who really do know WTF is going on

        • Its George Bush’s fault…how many times must you be told??

          • miller and the rest here, have you noticed that their are fewer thumbs down before noon? It is mostly in the afternoon.
            Miller, love your wit.

            • Yes, but there are nine simpletons so far that just don’t get it!!!

        • VRF,

          TPTB have had lots of practice with manipulating the numbers. If they can convince people things are getting better, that helps the election this fall.

          According to them, unemployment numbers are down, so the economy must be improving and employment must be up! 🙂

          • I just read that, the unemployment is down. So, all these people who were making $20 an hour are back working for $10 an hour …..Yep, they can afford a new house …NOT!!

            KY MOM.., is this what you see too? 🙂

            Have nice evening.

            • Eagledove,

              Yes. Good point. This is part of the manipulated numbers game.

              If true unemployment numbers were being reported, they would be much higher. After so many weeks, those who are unemployed lose their unemployment checks…so they are not counted anymore. Voila, unemployment numbers go down. They also don’t count those who want to be employed full time, but can only find a part time job.

              When a corporation in a small town downsizes or closes and hands out a bunch of pink slips, a ripple effect will be felt through out a small community. If a person then is only able to find part time work in a retail store, they will be making much less money.

              Hope you have agreat evening too! 🙂

              KY Mom

            • Older money is bottom feeding the housing market. People are looking at their 401k / IRA and deciding to get out of equities and bottom feed some housing in retirement areas. Short of that I think little else is moving outside of the oil / gas boom areas.

          • KY MOM,

            You are so right!!!

      3. The scary part is this is during a time of mass foreclosures where you’d think:

        a) “Bargains” would be everywhere spurring sales


        b) Folks may be forced to sell in advance of a potential foreclosure – and those folks would be likely moving out to rent elsewhere

        Just decided to refinance and debated on the 20 year loan but decided in the end to stick with the 30 year. Why sink more money faster into an asset that will likely depreciate further over the long term. Renting would be ideal but a bit too much for the family to handle now.

        • Mike, you might come out a winner on the 30 year when you consider inflation (I’m sure you did). 5% mortgage vs. 10% – 20% inflation — sounds like a good deal to me… heck, for those looking to get into a home, the price collapse may be offset by the low interest rates and rising inflation, especially if the home allows from some productivity like growing your own groceries, raising live stock, and personal alternative energy production.

          • hell 30 years from now I could be dead!

            or 30 years from now the entier US could be wiped off the map

          • Mac, there are a lot of people defaulting on their land investments also. Bought an additional 10 acres for 1/2 the original cost.

            • that’s a huge score there — and goes to show that just right there the land saw a 50% true reduction in value.

      4. people should begin “squatting” now – after a certain amount of time, you own the place…

        • My uncle did that. It takes 40 years in most states to gain ownership of a home through ‘adverse posession.’

          • In Arizona its yours through “adverse possession” after seven years. Adverse possession being defined as “open” and “notorious”.

            Meaning you are there and everyone sees it.

      5. When the statistics don’t tell the lie you want them to tell, change the basis on which those statistics are founded. Revision is coming before the election which will show that 2011 was the best year for home sales since statistics were manipulated.

      6. Obama’s Chicago home gets foreclosed

        Posted by Actual Grit on January 12, 2012

        CHICAGO, IL – President Obama’s Chicago homecoming on Wednesday was less welcoming than he expected, as Obama was shocked to learn his Hyde Park residence had been foreclosed upon some time last year. Obama was in Chicago for a series of fundraisers and decided to visit his old home, only to discover the locks had been changed and a new family had moved in.
        Since his inauguration, President Obama had neglected to make a single payment on the home he’d shared with his wife and two daughters, while the house itself fell into grave disrepair.
        “The place started to become a real eyesore,” said Kevin Deckman, who owns a home on the opposite side of the street from the former Obama residence. “The lawn was nothing but weeds, and there were a bunch of stray cats that would come and go through an open window, I think. It was a real health hazard. I had to tell my kids to stay away from the Obama house so they wouldn’t catch rabies.”

        Ironically, Obama had joked before heading to his old house that the untended structure was “bringing down property values” in the neighborhood, which turned out to be true. Sheila Kravitz, a retired schoolteacher, tried to sell her home on Obama’s block last year but couldn’t, as any prospective buyer was uninterested in living next to the decaying structure.
        “They had a TV on in that house that was on 24 hours a day for months,” said Kravitz. “The volume was way up and it was on one of the Spanish stations. Why would they be watching a Spanish station in the first place? And then to leave it on full blast? It’s just so inconsiderate.”
        Daniel Broyles, a spinal surgeon at the University of Chicago Medical Center, purchased the former Obama home at a foreclosure auction last May and was headed to his kitchen Wednesday night when he caught the president trying to jimmy open the side door with a credit card. “He came through the door, and we both had this moment where we were looking at each other like, ‘What are you doing?’” When Broyles explained to Obama the circumstances by which he came to own the house, the president apologized and left.
        In Washington the next morning, Obama downplayed the foreclosure as a minor inconvenience. “Whatever. It’s cool,” said Obama. “It’s not like the girls and I don’t have anyplace else to go. So I was too busy creating jobs and killing Osama bin Laden to remember to mail a check. Whoops.”
        Obama added, “If anything, I think this shows other Americans undergoing foreclosure that it doesn’t matter if they’re irresponsible or bad with money, because so is their president.”
        By: Sam Rodriguez

        Y’all Bware! How’s that for CHange?

          • Snopes is not entirely reliable.

            • Snopes is better than most, and they do make an effort to prove or deny the vast majority of what they find.

        • Obama was probably hoping the mortgage company would overlook his “non-payments” so that he could live there for free – what a freeloader (and a loser)!

        • I hope none of you really believe this story. I don’t care fr the man myself and i didn’t vote for him. I find it hard to believe he said Whatever, it’s cool and the SS did not check the place first before he arrived. Come on now..

      7. My good friend is a local real estate agent and he sold all of 3 homes last year. Before the crash he sold 3 per month. I want to sell my house and get out of the Nazi state of Illinois and he told me that unless I want to give it away, not to bother. There are repairs and upgrades I want to do to my house and he told me not to bother with that either as he has been told that the market may not come back for years if it ever comes back at all. I have a long list of scumbags I would like to run into if we ever lose ROL.

      8. Not only bad with money, It’s a complete horror show??

      9. Moving to sunny beach in south america, You guys can have monkeyboy….Enjoy…

        • I might join you if he gets another four.

          • You best leave before he gets another “4” because it may be next to impossible to leave the country after he’s elected (Please God, don’t let him win the election!) – You can check out but you can’t leave! Anyone remember that song (Hotel California)?

            • I wasn’t thinkin of Hotel California….I was thinking of those roach motel bug traps….

            • When they finally get around to securing the border and the barbed wire fences and guard towers manned by machine gun toting police thugs go up it will not be to keep out mojados and canucks. At some point having an American passport will mean you will be getting turned back at the border. Right wing mexican hating extremists clamoring for a fence will instead get a cage…

        • Enjoy, I’m staying to fight, already traveled the world and there is no place, again, no place like this country and it is worth fighting for and most of the people.

      10. The housing has bottomed soooooooo faaaaaaarrrr. More to come. When WIC usage decreases and jobs increase after a quarter of improvement, I’ll believe that things are just starting to get better before WWIII. What will they call QEIII? Twist & Screw II?

        • @ anonymous :
          Hellicopter Ben is changing his name to BEN DOVER !

          • A gold bug best friend.

      11. I have been buying vacant properties for twenty years and the deals keep getting better. I already have my secluded solar powered cabin in a rural community for WTSHTF, but am still looking for an on-grid rural house with tillable acres. I just passed on a 3BR with a basement garage that went for $6,000. It was on a small lot in a small town, so I decided to keep looking for more acres in an unincorporated community. These are harder to find, but they come up occasionally.

        The plan is to stay in this small city as long as one of us has a job, then step down to a secure and mortgage free traditional home, and keep the mountain cabin my retreat neighbors look after in case we need to vanish.

        Adapt or perish, now as ever, is nature’s inexorable imperative. – H. G. Wells

        • I think you are full of it. You are one of those guys that has to one up everybody everyday. It’s really getting old.

      12. How ironic that real estate is still going strong where? Washington DC, the 53rd state?

      13. See,
        If our President can do it and not give a sh%t, so can we, just ake him.

        Obama says, “If anything, I think this shows other Americans undergoing foreclosure that it doesn’t matter if they’re irresponsible or bad with money, because so is their president.”

        You got that right – now you finally tellin the truth!

        Y’all Beware! I’ve had enough

      14. It seems like our government and media are trying to get us to count our eggs before they hatch. And then to go into more debt accordingly.

        It’s no wonder that our federal government has gone into decline and the vultures are circling the dying.

        If we are not diligent, we will end up like Greece.

        Better to be cold, a little hungery, living off little money and no credit just like ICELAND!

        There is a country to emulate. Stand up as a powerful people incharge of their nation and the direction that it is choosing to go.

        God bless and keep on prepping.

        • yes mona, and may he have mercy on us all.

        • Iceland went back to fishing, free hot water & beautiful women.

        • I believe Iceland still has a housing problem similar to ours. They had several bank failures where the assets were bought by another bank at about 50% off. The new mortgage owners still want full price on the mortgages they bought.They have a collapse in housing prices also so many are underwater in their mortgages. But, like tom said, they have a healthy fishing industry and free heat and hot water. Not too sure about the women.

      15. I should have checked my email before calling it a day.
        I just received Great News my friend informed me of a home that I can stay in without “squatting” and offers a new Medicare program.

        Let’s say you’re a sick senior citizen and the government says there is no nursing home available for you. So what do you do?

        This plan gives anyone 65 years or older a gun and 4 bullets. You are allowed to shoot four Politicians. Of course, this means you will be sent to prison where you will get three meals a day, a roof over your head, central heating, air conditioning and all the health care you need!

        Need new teeth? No problem. Need glasses? That’s great. Need a new hip, knees, kidney, lungs or heart? They’re all covered. As an added bonus, your kids can come and visit you as often as they do now.

        And who will be paying for all of this? It’s the same government that just told you that you they cannot afford for you to go into a home. Plus, and because you are a prisoner, you don’t have to pay any income taxes anymore.

        Y’all Beware! Is this a great country or what?

        • What state were you in prison? The ones I visit are nothing like this. Everyone I talk to will do anything to get out.

      16. That means there will be plenty of houses for the claiming once the system collapses entirely. Instead of everyone being homeless, people may well be able to just move into one of the many unoccupied homes the banks can no longer claim or protect. Especially if there is a big die off for some reason.


        • They’ll still need utilities, sewage, etc… Day job:at the corner panhandling.

      17. I am getting dizzy again, and confused! All the numbers say we are in deep doo doo, but the politicians keep say everything is great! I guess if I was inside trading and getting bribes,I mean campaign contributions, I would be saying every thing is great also. I just stopped spinning, NUMBERS DON”T LIE, POLITICIANS DO!

      18. Ya’ll would not believe the new homes being built here in the panhandle of Tx. Its going crazy right now, At least 30 new homes every week in the big city of amarillo.
        And its not just small homes some of these homes are going 3500sf.

        • DPS-I worked in amarillo about 15 years ago, I wasn’t able to finish that steak! WOW! I will never forget that steak! I don’t know if thats good news, more houses into the national inventory means the bottom is not reached yet(as we all know). More houses+no jobs= deep doodoo!

          • Kevin

            Not to many people can eat that 72oz steak with all the trimmings at The Big Texan. And those homes I mentioned well most of them have already been sold.


            • DPS, bet the homes are being bought by out of staters and out of towners.
              Here in west Texas, still a lot of homes being built also, but I know it is in anticipation of more military coming here.

            • DPS- good. I can assume the housing inventory isn’t that bad there! I like that town for some reason, allthough I imagine its grown alot. Which means more sheeple and crime, then when I was there!

            • DRD,

              That could be with the Bell heli. plant here and all the medical around amarillo that may account for all these new houses. Of course living close to amarillo if we ever get nuked you will see nothing but a flash, We had Pantex…LOL won’t even have time to kiss my ass good bye.


          • I’ve been there too. That was one big steak.

            • You weren’t to slim after that aye!

      19. Last September we closed this home and as we were doing so I asked the guy that was writing our mortgage at Wells Fargo, just how is the housing market going? He said all of their REOs were being bought up shortly after they got on the market. I said who is buying them? He said investors. I asked what about ordinary people? He replied; in this economy and what a lot of people have gone through most fail to qualify or have insufficient funds to complete escrow. But those investors are snapping them up as fast as they can get them and sometimes there is a bidding war for them. I asked what are they doing with them, rolling them over, flipping them or what? Rentals, I have one buyer that has over 150 and is looking for more. He said this guy is certain the rental market is going sky high. People have to live somewhere. I can say in this area there is a for sale sign on every 4th house in some areas and homes that sold in 2008 for 325K are now selling in the 70Ks. Is doesn’t matter what anybody says, look for these signs. When was the last time you seen a tract of houses in frame. Look at the big lumber yards and their inventory, Hardware suppliers, steel companies, equipment companies. They all are either laying off employees to the bare minimum and reducing their inventory to the minimum or closing all together. Maybe Obama is going to take over Fanny and Freddie and have a shit ton of rentals for his people/supporters. What an interesting concept, don’t you agree?

        • Good thought. Possibly acorn and union members?

        • That’s blatant BS. Whether it’s REO or Bank Owned, nothing is moving anywhere. He was just blowing smoke at you to keep you interested. Remember the old joke about how you tell when a (real estate agent/used car salesman/politician) is lying: His lips are moving.

          Nobody but nobody wants to own RE in a market that is so obviously going much, much deeper into the tank. Last of all “investors”.

      20. best door bell in the world ,,they wont even make it to the door.. get ready all,,b smart and wise, and prep!

        • 95lb GSD K9 – Glad to see others have faith in a German Shepherd. Had them since Viet-Nam days. Always a loyal and smart companion. Smarter than most humans.

          Current GSD is another adopted from a wealthy family leaving the USA for obvious reasons. Even after losing 17lbs he still weighs in at 128lbs. Yea, he even had a maid…what a life !

          Now he is getting lean. The deep growl when anyone approaches the house..well it sounds like a pissed off, very hungry bear. Yet, he is just a big huggy if your friendly.

          Ou last GSD was 88lbs and lived 13yrs 9mos. A loss years ago I have yet to get over. Keep her collar near my bed as I like to touch what was once there.

          Hug that dog for us. They always give it all.

          YES, keep preparing. I have no idea what the last chapter will be , but we are in for a scary ride.

          Over & Out

      21. Get some popcorn people, ZIRP and money printing to infinity!

      22. For your information the new construction up tic was not for single family homes, townhomes or condo’s, it was apartments they were counting.

        As always you can’t trust the Head Lies. With all the real time propaganda you have to look at what they are counting or not counting as is the case with unemployment.

        Here is my prediction for the 2013 State of the Union. “The state of our union is strong.” Two days after the state of the union address 2012 will be the worse year in history for housing sales. Unemployment will be down because they only count people receiving benefits, not that anyone actually found a job.

        Does anyone in the media or politics know how to tell the truth? Do they really live in such a bubble that they have no clue what the truth is?

        Folks as the Good Ship USS America sinks into the abyss. I can hear the MSM and politicians screaming: All is Well!!

        The very fact that they are ratcheting up the rhetoric of recovery and printing of money, scares the hell out of me. Could we be close to systemic financial collapse?

        • Damn aint that the truth!!!

      23. Mac: I need help this moderation thing is killing my love! LoL!!! You go to help me man! Please for the love of God.

        I starting to feel like my ass is in the wind, with no coms.

        • BF, your new email address has been added to the Akismet WhiteList, so you should be good to go now. For others with comment approval issues, my best advice is to utilize an email address when submitting comments (even if it is a fake email addy). Once a couple comments are approved in the system, AKISMET (automated spam filter) will start recognizing you as a trusted user and should start approving comments right away (unless a link is included in your comment, in which case it requires admin approval).










      25. 900,000,000 homes and counting abandoned by owners… every company across the country cutting dead weight employee’s downsizing , even the us military cutting active duty employee’s , taxes have will continue to increased , new obama care personal med costs to skyrocket , foods fuels household goods to skyrocket further in cost , property taxes are and will continue to increase , commercial real estate has gone bottom up , employee hours are all being cut back… see the trend folks???

        you all need to downsize now… clean out your 401k take the penalties get out now – preserve your wealth silver gold guns ammo, dump that reversed mortgaged mcmansion home… if you own more than a rug you own to much… GO LIQUID! rent downsize streamline … buy your pm’s now … preserve your wealth now … buy for the next five years now … while still affordable … austerity is here … YOU WILL ALL BECOME POORER AS THE BANKs GETS RICHER! THIS IS ALL PLANNED U.N. PROGRAM AGENDA 21!

        THIS IS ONLY THE BEGINNING… WATCH READ AND LEARN… this is not just a fad, it is planned and organized… your government is lying too you – WAKE THE F UP! NOW!

        silly rabbits… open your eye’s see the truth , this is REAL!

        • Nine hundred million homes given up? That would be about three homes per person in the United States, including women, children, and illegals.

          Count again.

          • LOL! No kidding!

            Census says there’s roughly 140 some-odd homes, apartments, domiciles, and the like.

            900 million homes would easily house all of China.

        • I sold my homes a few years ago. I lost some accrued equity, but none of my investment. Also borrowed the maximum out of my retirement plan and divided my assets as follows: 1/3 precious metals, 1/3 food and supplies, 1/3 acreage and building materials. Moved in with someone who is underwater on their mortgage while I built my off-grid home. Sold my sports car and bought and old diesel pickup and a motorcycle that get 60MPG.

        • i meant 9 million… forgive my transgression please… thanks for the correction.

      26. Subject: FW: SNOPES NO MORE – A MUST READ…..

        RP…I know u already know about this, just a reminder Just passing it along….

        Many of the emails that I have sent or forwarded that had any
        anti-Obama in it were negated by Snopes. I thought that was odd.
        Check this out.

        Snopes, Soros and the Supreme Courts Kagan

        We-l-l-l-l now, I guess the time has come to check out Snopes!

        Ya’ don’t suppose it might not be a good time to take a second look
        at some of the stuff that got kicked in the ditch by Snopes, do ya’?

        We’ve known that it was owned by a lefty couple but hadn’t known
        it to be financed by Soros!

        Snopes is heavily financed by George Soros;
        a big time supporter of Obama!

        In our Search for the truth department, we find what I have suspected
        on many occasions.

        I went to Snopes to check something about the dockets of the new
        Supreme Court Justice, Elena Kagan who Obama appointed and Snopes
        said the email was false and there were no such dockets so I Googled
        the Supreme Court, typed in Obama-Kagan, and guess what?

        Yep you got it; Snopes Lied!

        Everyone of those dockets are there.

        So Here is what I wrote toSnopes:
        Referencing the article about Elena Kagan and Barak Obama dockets:

        The information you have posted stating that there were no such cases
        as claimed and the examples you gave are blatantly false.

        I went directly to the Supreme Courts website, typed in Obama Kagan
        and immediately came up with all of the dockets that the article made reference to.

        I have long suspected that you really slant things but this was really shocking.

        Thank You, I hope you will be much more truthful in the future, but I doubt it.

        That being said, Ill bet you didn’t know this.

        Kagan was representing Obama in all the petitions to prove his citizenship.

        Now she may help rule on them.

        Folks, this is really ugly.

        Chicago Politics; and the beat goes on and on and on.

        Once again the US Senate sold us out!

        Now we know why Obama nominated Elana Kagan for the Supreme Court.

        Pull up the Supreme Courts website, go to the docket and search for Obama.

        She was the Solicitor General for all the suits against him filed with the Supreme
        Court to show proof of natural born citizenship.

        He owed her big time.

        All of the requests were denied of course.

        They were never heard.

        It just keeps getting deeper and deeper, doesn’t it?

        The American people mean nothing any longer.

        It’s all about payback time for those who compromised themselves to elect
        someone who really has no true right to even be there.

        Here are some websites of the Supreme Court Docket:

        You can look up some of these hearings and guess what?

        Elana Kagan is the attorney representing Obama!

        Check out these examples:

        If you are not interested in justice or in truth, simply delete.

        However, if you hold sacred the freedoms granted to you by the
        U.S. Constitution; by all means,
        PASS it ON!

        There truly is tyranny afoot.

        • Bloody,

          I ran across that last winter and of course everybody I told about it told me I was full of s–t, but hey its right their hiding in plain sight.


      27. $10. gas is coming… get ready…

        Israel SUCKS (The Gas Right Out Of Your Tank)

        I just bought a electrical converter kit for my mountain bike… gets 27 miles to a charge… i beefed up my rims, tires and tubes and saving for solar panels and an extra power pack to extend my range… for less than $500. i’m completely independent of gas… ;0)… everyone can do this… check it out.

        • Get an Electra 7D Cruiser, great bike. Don’t get Wal-bikes they are really junque, ok to take to Burning Man and leave for the scavengers, but not keepers. Learn to work on bikes if you can, a lot of good old steel frames out there. I get a lot of miles on a burrito.

        • If we get 10 dollar gas, we’ll all be captives in our own homes. It wont make economical sense to go to some jobs because 100 percent of your check will be going in the tank.

          So I dont see it happening but if it does we’re going
          Mad Max thunderdome.

      28. I live in WV and the big home crash never happened here so prices ahve remained stable.

      29. Gov. Jan Brewer is my hero. I’ll bet on that pair.

      30. This doesn’t apply to the Sierra foothills. A house (on acreage) can go on the market and is pending the same day. There are multiple bidders for the same property very frequently. Crappy houses on land go for more than they should in this market, in my opinion as a buyer. I commented on this a few articles ago.

        I’m wondering if this is because people are fleeing the cities and flocking to the rural areas as far away as they can and still commute to the cities. Is it possible that the sheeple have awakened?

        • Only those with friends and/or family owning a genuine SHTF Plan Doomsday Decoder Ring.

          But you would be surprised at the number of “celeb’s” and people in the know, who are “tapped in”.

      31. @BigHog &

        You are now entering the Twilight Zone! = 5 Minutes into the show, camera zooms in – “Come on guys you gotta know I believe everything I read on the web. It is all true!! You just gotta believe!”

        – And now a word from our Sponsor:
        Barack Obama Soap Substitute (BOSS), Insert jingle –
        “Use it once and all of the undesirables are washed away.”

        No more wars, lies, killings, drugs or pollution. Our secret imbedded microchip formula provides you the secure feeling that your government backs you 100% wherever you go.

        BOSS provides time proven methods of insertion, when bending over and a great feeling that you have been cleanly Fu%&ed.”

        Commentator: Now wake up and back to tonight’s episode of How I Screwed America!

        Y’all Beware! Cause I do for you!

        Big Hog – Kick start that damn thing and have fun!!
        Pastor – My prayers are with you and all here.
        Love to all.
        Now let’s watch the fight, er debate. 7:59 PM EST

      32. The Feds are having automatic oilers installed on the printing presses as we speak!!

      33. I think it was Gerald Celente who said that the topic at cocktail parties in the coming years will no longer be things like the latest movie, what the kids are doing or what car they just bought. The new cocktail party discussion will be “How to Strategically Default”.

        If your home is worth $200,000 and you owe $300,000 with no chance of it going up in value for at least 7-10 or more years, does it make sense to keep it?

        You entered into a business agreement with a bank. You agreed to pay and if you didn’t, they said they’d take the house. More & more people are going to start thinking this way unless things miraculously improve. And I’m talking GOOD people, honest people, with good FICO scores will be doing it.

        I’m not there yet but if the economy doesn’t pick up I might be forced to think this way. Sad but true.

        • You said it Mr. Blutarsky. It’s a business contract. You buy a car, you make the payments, you don’t like it, you take it back. Only in a lot of states, houses were such a sure bet that the bank can’t come after ya for the difference. Houses always went up! Also, the first mortgage is secured by the property, 2nd, 3rd, etc are not, they’re unsecured, essentially like credit card debt.

          Plus, stop paying and then wait for *them* to ask you to leave. You can live there for free for years because the alternative is to have no one living there and vandals get in and wreck the place, and weather, animals, etc. make it deteriorate.

        • Already did it!!! Makes no sense keeping it… what the bank does…….make a business decsion.

      34. Sure we wanted a bigger house, but when the broker kept telling us that we could afford a house 3x our yrly income, it just didn’t sound right. Today, the shoebox we stayed in, is worth exactly what we bought it for 33 freeking yrs ago.

      35. Farmland and houses are gone within a few days. If you have cash in hand you get one but without it, forget it.
        Last month I was negotiating the loan at the bank and some schmuck from California gave the broker cash plus on the place. I got called before signing thank goodness. Still looking and praying for guidance.

        • This is what is happening in California too, but it’s Californians ousting Californians. They’re ruthless.

          We had an offer on some land here and the agent said the sellers would accept our offer (short sale) and then two days later the sellers accepted another higher offer and did not even give us a chance to re-bid, just kicked us out with hardly a word and never did accept our offer.

          I keep wondering who has the cash to pay cash on a house listed for over $300,000.

      36. eedr-Good morning, We are in deep $hit my brother!! No one else has brought up the changes that have occured on the net. That concerns me.

      37. kevin…. yes thats why we are in deep shit… no one really is willing to fight for our freedom anymore and alot on here want socialism and communism and just dont get it.

      38. This is a message to the CIA and Barack Obama. as I live within a short distance of your borders(even if it is nautically), I am aware you are flying drones over MY property… I am kindly requesting you CEASE AND DESIST immediately…..I do not permit you to do this and will not tolerate it any longer. I am not in the habit of repeating serious requests.

        your re election and continuing influence over what goes on in our soveriegn borders is not tolerable. Your evil communist , globalist, Saul Allinsky agenda is not welcome in Canada and your influence over our government will not be tolerated after November. I allign myself with China( who is opening a new plant in our district which will employ 300 people), Russia and Iran. You are out of control and shall by the will of the American people , not reelected to office. If you are reelected , the world will have no choice but to ISOLATE AMERICA AND ISRAEL. I am not in the habit of repeating , what is a VERY SERIOUS request. If the AMerican people want freedom and choice , elect RON PAUL, if you want to be isolated in a communist state and live your shitty lives … you will do that under Barack Obama or Newt Gingrich, however you will not be allowed to freely commit these crimes against the rest of the world…. I think the time has come for all of us to choose which side we are on, and let the chips fall where they may.

      40. Kevin2 – SW Florida is a train wreck, Cape Coral’s basically Detroit South. Hope you didn’t buy. I sold at a loss and left FL in 2010. Thought I was buying the bottom….

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