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 Median household income is falling in the vast majority of U.S. states and in virtually every single major U.S. city. According to the Census Bureau's annual survey of income and poverty in the United States, of the 52 largest metro areas in the nation, only the city of San Antonio did not see a decline in median household income in 2009. Needless to say, that is not good news. If incomes are falling from coast to coast, then how in the world can anyone claim that we are experiencing a "recovery"? The truth is that we are not in the middle of an economic recovery. What we are in the middle of is a long-term economic decline. Incomes are going down and middle class American families find themselves squeezed like never before. Meanwhile, unemployment has skyrocketed in recent years and it has become much harder to get a good job. Less Americans than ever are able to achieve anything even close to resembling the American Dream. Things are getting really tough out there, and as more jobs and factories leave the United States, as the U.S. government goes into even more debt and as the economy continues to implode things are going to get even worse. (Read More.....)
 As election season 2010 draws near, the Obama administration has finally realized that the Democrats could actually lose both the House and the Senate in November. Suddenly all Obama wants to talk about is his wonderful new plan for the U.S. economy. Unfortunately, what he is suggesting is far too little and far too late. Anything Obama is proposing now will not be passed by Congress before the upcoming elections, and that is bad news for the Democrats. The American people tend to vote based on their wallets, and right now the American people are not happy. They desperately want someone to "fix" what is wrong with the economy. Obama is running around the country trying to convince people that he is the man to restore the American Dream, but at this point the American people have less faith in his economic policies than ever. The White House is insisting that Obama's new economic plan is not a new "stimulus package", and that is actually true. Obama's new plan will not stimulate much of anything. The truth is that Obama's new economic plan is really just a cruel joke on those who are willing to have faith in Obama's ability to somehow turn the dying U.S. economy around. Unfortunately, throwing several hundred billion more dollars at the problem is not going to do anything to fix the foundational problems that are destroying our economic system. (Read More.....)
 It doesn't take a genius to realize that a horrific housing crisis in unfolding right in front of our eyes. Yesterday it was announced that existing home sales plummeted 27 percent in the month of July. Today it was announced that new homes sales dropped to the lowest level ever recorded in July. But why is this happening? Why is the American Dream still dying for millions of American families? Wasn't the recession supposed to be over by now? Weren't home prices supposed to be moving back up by this time? Well, in this article we will attempt to succinctly break down the ABC's of the Great American Housing Crisis. Hopefully this will help people understand why all of this is happening. (Read More.....)
 The U.S. housing market is dying. You will only hear hints of this on the mainstream news and from the politicians in Washington D.C., but as statistic after statistic continues to roll in, the reality of what is happening is becoming very difficult to deny. Up until the end of April, the giant tax credit that the U.S. government was bribing home buyers with helped stabilize the real estate market, but now that the tax credit has expired the decline of the U.S. housing market has resumed. Mortgage defaults continue to set new records. Foreclosures continue to set new records. Home repossessions by banks continue to set new records. The number of homes being constructed and the number of Americans applying for home loans is at stunningly low levels. For decades, owning a home has been touted as the very heart of "the American Dream", but today that dream is out of reach for an increasing number of Americans. Why? It is because there are not nearly enough jobs for everyone. Without a jobs recovery, there simply is not going to be a housing recovery. Unfortunately, as the U.S. economy continues to come apart like a 20 dollar suit, even more Americans are going to lose their jobs and the U.S. housing industry will continue to experience a very painful decline. (Read More.....)
 For years, researchers such as Gerald Celente have been warning that the coming economic collapse is going to spark mob scenes and riots that are unprecedented in U.S. history. Many have scoffed at these predictions and have refused to believe that anything like that could ever happen in America. But if what happened on Wednesday near Atlanta is any indication, we could be on the verge of something really bad. 30,000 people turned out to pick up only 13,000 applications for government-subsidized housing. Some people had waited for over two days just to get their hands on an application. The "chaotic mob scene" that developed as the applications were being handed out left 62 people injured. It turns out that there aren't even any vacancies in government-subsidized housing at this time in that area. These people were going wild just to get an application to get on the waiting list for government-subsidized housing. Yes, this is what the American Dream has degenerated into - thousands of people rioting in an attempt to get on a waiting list for a government handout. (Read More.....)
 Will we see the start of another housing collapse before the end of 2010? That is what a number of top economists are beginning to fear. The truth is that there are some very troubling signs in the housing numbers. The massive tax credit that the U.S. government was offering to home buyers helped prop up the housing market for quite a while, but now that the tax credit has expired, many real estate professionals are bracing for the worst. The reality is that foreclosures continue to set all-time records, the mortgage industry is a complete mess and another massive wave of adjustable rate mortgages is scheduled to reset in 2011 and 2012. As the U.S. economy continues to falter, and as the nation starts to deal with the economic fallout from the Gulf of Mexico oil spill, many are now wondering how in the world Americans are going to be able to afford to purchase millions of these homes which are still massively overpriced. The American Dream is still way too expensive for the vast majority of Americans. So are there signs that housing prices in the U.S. could be on the verge of another major decline? (Read More.....)
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