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.....)

Most Americans know that the U.S. economy is in bad shape, but what most Americans don't know is how truly desperate the financial situation of the United States really is.  The truth is that what we are experiencing is not simply a "downturn" or a "recession".  What we are witnessing is the beginning of the end for the greatest economic machine that the world has ever seen.  Our greed and our debt are literally eating our economy alive.  Total government, corporate and personal debt has now reached 360 percent of GDP, which is far higher than it ever reached during the Great Depression era.  We have nearly totally dismantled our once colossal manufacturing base, we have shipped millions upon millions of middle class jobs overseas, we have lived far beyond our means for decades and we have created the biggest debt bubble in the history of the world.  A great day of financial reckoning is fast approaching, and the vast majority of Americans are totally oblivious. (Read More.....)

The U.S. economy has been riding out one of the worst recessions in modern history, but unfortunately every economic signal seems to be indicating that we are going to be experiencing a "double-dip" recession instead of a recovery.  U.S. government debt is out of control, a massive "second wave" of mortgages is scheduled to reset starting this year, banks have significantly tightened credit, pension funds across the U.S. are broke at a time when a ton of Baby Boomers are ready to retire, and a massive financial crisis in the Eurozone threatens to throw the world into financial chaos.  The truth is that 2010 is going to be another very tough year economically, and for many the American Dream is quickly becoming a distant memory.  The following are ten clear signs that this will be a double-dip recession in the United States.... (Read More.....)

The housing crash of 2008/2009 was one of the biggest financial disasters in American history.  Approximately 6 million homes have been foreclosed on by lenders in just the last three years alone as millions of American families watched their hopes for achieving the American Dream go up in smoke.  Since early 2008, approximately 60 million U.S. homes have lost a combined 5 trillion dollars in value.  It has been an unmitigated disaster for homeowners, lenders, home builders, real estate agents and construction workers.  Now approximately one out of every four U.S. homeowners are "underwater" on their mortgages.  That means that they owe more money than their homes are worth.  If that wasn't bad enough, it is estimated that by June of this year approximately 5.1 million American homeowners will own a home valued below 75 percent of what is owed.  Can you imagine owing $400,000 on a home that is only worth $300,000?  That is where millions of American families find themselves now.  In some areas of the U.S., the housing market is so bad that it is almost comical.  In California, one bank demolished 16 nearly completed homes because it was cheaper to knock them down than to finish building them.  The worst part is that by all indications, the housing crash is far from over.  In fact, a massive "second wave" of mortgage defaults is on the way over the next three years that could potentially deliver a knock out blow to the U.S. economy. (Read More.....)