Re: US Home Values Bottomed Out?
Agree with "tkret".
Some things to think about.....
Gas at $4,$5,$6 /gallon. Who can afford 100 mile commutes on a daily basis?
Food prices increasing dramatically due to drought, floods, ethanol, etc. up about 23% year over year.
Heating oil at sky hi prices...$650 for a tank fill. That shoe will drop this fall.
Increases to come from utilities for energy related costs.
Municipalities increasing taxes due to revenue shortfalls
Not to mention bank failures, and the soon to arrive consumer credit crisis.
Oh, and the likely bankruptcy of at least one major auto maker and perhaps more than one major airline.
The dollar is dropping like a stone due to the Fed's lame policies which is and will continue to wreak havoc on the cost of our imports, which if you haven't noticed is just about EVERYTHING we use on a daily basis.
These are just the basics. Seriously, does anyone remember a time when so many thing s were lining up in a financial "Perfect Storm"? I don't.
It's all going to be a BIG problem on folks with fixed incomes VERY soon.
Hoping for the best, preparing for the worst.....
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