Homes Lose $1.7 Trillion in Value, Crisis in States Intact

The double dip in housing continues to be confirmed by multiple sources. The research group Zillow just came out with a report that says homes are on pace to lose $1.7 trillion in value this year. To put this number in perspective, homes lost $1 trillion in value in 2009. If anything, the decline in real estate is accelerating, especially since most of the gains in home prices earlier this year were due to the homebuyer tax-credit.

I’ve made the point that falling home prices will eventually bring down tax revenues in states already in fiscal disarray. Let’s take California as an example. The budget gap estimate in California has recently been raised a couple of billion to $28 billion. Two of the larger cities in California, Los Angeles and San Francisco, are set to lose over $60 billion in home value this year. Mortgage rates have risen to a 5-month high, which will put additional pressure on housing. Assessments are lagging much more than they usually do because the downturn in housing has been so sharp and unprecedented. Add to that the increase in servicing costs caused by the expiration of Federal subsidies, and you can start to see why the crisis for states is heading into high gear.

There is no real solution to the looming crisis in states since the Federal government is facing bankruptcy issues of its own. I fail to see how the situation in America is materially different from that of Europe since both governments are borrowing money to meet basic costs. We clearly are not going to grow our way out of this structural debt problem. The solutions to this debt crisis should be much more creative than merely raising taxes and cutting services. We are entering a time window (2011-2015) that I believe will set a totally different tone for our economy. 2010 was supposed to be the year of the recovery; we all know now that people were far too optimistic.

How long do we have to muddle along before people just admit we are in a Depression? I am positive that now is the time to get prepared for events of crazy proportions. Will my message largely fall on deaf ears? Probably. But hopefully some of you understand the magnitude of our problems and are preparing accordingly.

Share this article
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  • Cmclub

    Hi Moses,

    “I am positive that now is the time to get prepared for events of crazy proportions.”

    I agree. The question I have is, as a small business owner that I spent my life time building, would you sell the business and hunker down or walk this situation out? I am concerned that this current situation my end up destroying my business and of course my rice bowl. What are your thoughts. TIA

    • http://www.expectedreturnsblog.com Moses

      Hi Cmclub,

      Without knowing the particulars of your business it’s hard for me to respond intelligently. However, I think we all agree that something just doesn’t “feel” right. I can say with a high degree of confidence that small business owners will be targeted by coming administrations since they are perceived as “rich.” I am also pretty sure that poorly thought out taxation schemes will destroy already thin margins for small businesses.

      If I had to give general advice that is applicable to everyone, I would say buy your gold and silver in small increments month after month. If you can build up a position that more or less matches your annual income, I think you will do fine. Home should still be sold in favor of renting because I am almost 100% positive property tax rates are going up along with energy costs. Other than that, just hunker down and hope for the best.

      Best of luck,
      Moses

  • Anonymous

    Let’s postulate what the end game of this financial crisis will be. Over the next generation, will the people gain control over the government or will the government incrementally become more oppressive? The former necessitates a revolution, the latter just requires the status quo.

    • http://www.expectedreturnsblog.com Moses

      Probably a combination of both.

  • http://www.siomunzus74.com Andrew Pelt

    I simply want to tell you that I am just newbie to blogging and honestly enjoyed this web page. Probably I’m likely to bookmark your blog . You absolutely come with very good writings. Thanks a lot for revealing your web-site.

  • http://www.apte4ka.com/shop/cosmetics/fito-kr-m-n-chn-ji-d-litsa-d-suh-i-chuvst-k-zhi-50ml-detail.html Nery Mcquilliams

    Tweeting that in my personal old ipad tablet. lkjljsd*#a Oh, I merely lowered that! Assist now i’m pinned within the huge fat!!!

  • http://www.cumshotsurprisetgp.com check it out

    I love reading through a post that can make people think. Also, thanks for allowing me to comment!

  • http://www.dans-porn-links.com click this

    An interesting discussion is definitely worth comment. I do think that you need to publish more about this subject matter, it may not be a taboo subject but usually people do not speak about these issues. To the next! Cheers!!

  • http://www.fistinginactiontgp.com/18/latina-culona-le-encanta-el-sexo-por-cam/ great content

    If you’re still on the fence: grab your favorite earphones, head down to a Best Buy and ask to plug them into a Zune then an iPod and see which one sounds better to you, and which interface makes you smile more. Then you’ll know which is right for you.

  • http://alaskanaids.com/6307/how-to-invest-in-stocks-and-shares/ venus factor reviews

    I’ve seen other bloggers have more than one image per post, but the templates blogspot only allows one image per post. Does anyone know the .html or is there something else I have to do to get multiple images?.

  • http://russianaptekaonline.com/Oils_Russian_apteka_pharmacy_online_in_the_USA?product_id=396 Leland Weingart

    When i never offer butterfly smooches but I actually do allow horse licks, petrified monkey shrieks or perhaps guy o’ struggle jellyfish massage therapy. Should it be true love.

  • http://storyweeks.com/12467-penny-stock-egghead-program-reviews penny stock egghead

    What is the best short or from home creative writing course available in London?

  • http://www.weareteens.net universitarias follando

    I’m very happy to discover this web site. I want to to thank you for ones time just for this fantastic read!! I definitely appreciated every little bit of it and I have you saved as a favorite to look at new stuff in your website.

  • http://russianaptekaonline.com/Tablets-remedies_Russian_apteka_pharmacy_online_in_the_USA?product_id=69 Merlene Nabours

    Will “The Facebook and myspace 2″ details exactly how Facebook has changed into a fewer suitable destination to visit when compared to a Mexican very hot dog manufacturing facility?

  • http://tokumei10.blogspot.jp/ Arlinda Beger

    this site is cool!!!!!!!!!!!!!!!!! http://tokumei10.blogspot.jp/ thx read

  • http://tokumei10.blogspot.jp/ Arlinda Beger

    this site is coooooooooooooooooooooool!!!!!!!!!!!!!!!!! http://tokumei10.blogspot.jp/ thx read

  • http://www.all4scrapebox.com Auto approve list

    I like this blog very much so much fantastic info . “Funny how just when you think life can’t possibly get any worse it suddenly does.” by Douglas Noel Adams.

  • http://russianaptekaonline.com/index.php?route=product/product&path=17_77&product_id=907 Jere Longman

    Snooki crashed in a police officer car with France. In which sucks, although providing the girl decided not to reach these together with the girl genitals they must be ok.

  • http://seofornown4eva.com http://seofornown4eva.com

    I really love your site.. Pleasant colors & theme. Did you create this
    amazing site yourself? Please reply back as I’m trying
    to create my own personal site and would love to know where you
    got this from or what the theme is named. Thank you!

  • http://tiny.cc/sugaringzuerich Sugaring Zurich

    What comes about if i never use freshly squeezed lemon juice? will it nonetheless operate?

  • http://spam.to/stdtestingathome90307 home std test kit

    Research your options prior to you purchase your first deck. Your money should be choosing up this thirty day period but only via your personal difficult function and efforts. Keep peaceful and wait about throughout your session.

  • http://www.connectdirector.com/articles/business-opportunity-in-interim-management internet online portal

    My compliments, useful post and an outstanding web site. Also your post has inspired me to start writing on issues comparable to what you are performing. We are making a premium on the web portal a specially-created website that brings information collectively from diverse sources in an uniform way. The Connectdirector Online Portal – advertising networks & match producing community portal is specialist networking on the Connectdirector “all in one” premium online portal offering enterprise networking & social networking, contacts, matching, on-line content, (internet) marketing & (company help) solutions. An distinctive multi-language net portal notion with a global exposure and a neighborhood concentrate on every wealthy high best high quality on the internet content material material and dynamic database generated listings for matching personal interest, enterprise interests and social interests and requirements. We at Connectdirector advertising networks and neighborhood portal are an match making authority in guiding and decreasing barriers by direct linking enterprise and social interests and needs interests on the principles of joint result, integrity, compliance and excellence. Summarized Connectdirector is Networking, Contacts, Matching, Content material material, Marketing & Solutions.If you did not pay a visit to our site nonetheless and/or you are not a member, then please sign up as we really want to know your thoughts so we can improve our on-line portal. On our website you can begin straightforward to develop your network contacts!

  • http://ow.ly/yav1q Waxing Zürich

    ohmygosh! that just made my day! “so I produced lemonade alternatively.” hahaha! I can’t wait to consider! I’m so thrilled! even though I’m genuinely afraid to try out my bikini region, last time I did that with wax.. didn’t flip out great for me In any way! haha if this doesn’t perform.. I think I will make lemonade alternatively:]

  • http://www.johnnykirkstoeppleman.com/?p=11 Isabella Strief

    When I recognized your title of the weblog (BLOGTITLE) doesn’t appear to be adequately optimized for a real great blog. Email me back on EMAIL if you want any help with your own website SEO! I would be thrilled to help such a great blogger! :-) I JUST finished working on Johnny Kirk Stoeppleman’s website just to show you: http://www.kirkstoeppleman.com.

  • http://www.tuxmachines.org/node/66712 Dominick Greet

    After study several with the blog articles for your internet website now, and i also genuinely such as your strategy for blogging. I bookmarked it to my bookmark internet website list and are checking back soon. Pls take a look at my web page in addition and tell me what you believe.

  • Pingback: Jokes

  • http://www.youtube.com/watch?v=pGhkpBgGeTc best beat maker software

    very couple of web sites that occur to become comprehensive below, from our point of view are undoubtedly effectively worth checking out

  • https://ledbulbshop.wordpress.com/ LED Light

    It is highly helpful for me. Huge thumbs up for this site post!

  • http://www.escortamsterdamladies.nl/ escort service prostituion whore cunt anal sec ass fucking dog shit eating piss drinking eat scat brown shower satan worship homo gay fagot queer dick cock pussy cunt child porn sex childporn nude pictures Google owners are homoseual ass fuck anal sex dri

    633885 122061Having a look ahead to look you. 791569

  • http://www.cbsexe.com/9/penetrando-a-cuatro-patas-a-una-madurita/ great info

    Between me and my husband we’ve owned more MP3 players over the years than I can count, including Sansas, iRivers, iPods (classic & touch), the Ibiza Rhapsody, etc. But, the last few years I’ve settled down to one line of players. Why? Because I was happy to discover how well-designed and fun to use the underappreciated (and widely mocked) Zunes are.

  • http://www.kurnik.pl/stat.phtml?uid=rozajewski firmy

    Hello! Solve you get qualification they achieve a few plugins to help with Explore Engine Optimization? I’m irritating to get my blog to rank for approximately under attack keywords but I’m not bearing in mind vastly sunny gains. Qualification you get of any satisfy reveal. Be thankful for it!

  • Pingback: Gun Store Aurora, CO

  • http://snw.im/homestdtest40291 at home std test

    People they are mixing with can be relied on entirely to maintain their word. If a client is involved, explain to him/her that the playing cards are just not working and refund any money exchanged.

  • http://www.youtube.com/watch?v=LH5koAPe2SI funny commercials

    Every when inside a whilst we opt for blogs that we study. Listed beneath would be the latest internet sites that we decide on

  • http://top-ogloszenia.net/43-11-36-510176 rejestracja spółki

    I set up accordingly countless motivating gear in your blog principally its discussion. Commencing the tons of comments on your articles, I guess I am not the only one having all the enjoyment here! keep up the clear work.

  • http://www.youtube.com/watch?v=0-JBc001nXY funny painful fails

    we like to honor many other web web-sites on the web, even if they aren

  • https://www.facebook.com/led.lamps.shop LED Lamp Shop

    Thanks for the good article, I was searching for details like this, going to check out the other articles.

  • Pingback: iherb coupon

  • http://indirimkuponun.wordpress.com/ enmoda

    Thank you mr/Mrs, it was really good to read.

  • http://www.supersocial.pl/index.php?do=/blog/284359/those-people-ray-ban-contacts-are-made-of-many-materials/ visit this site

    Gold jewelry epitomizes old classic distinctiveness in itself, speculate all the environment intended for crystals as well as merged with various other gold coins, the actual aesthetic importance that adds to the individual wearing it is undoubtedly inestimable. True magic on it’s own is light together with wouldn’t be practical for jewellery and other cosmetic objects. Tiffany Gold is produced any time yet another stainless steel, such as truck driver, will be cheap tiffany jewelry put onto typically the sterling silver so that it will robust and tough. Hence though it may be not as stable when stainless steel,sterling silver expensive jewelry is undoubtedly having said that pretty long lasting together with long-lasting. This is why a variety of bands, bracelets, earrings, menrrrs cufflinks, buckle buckles, entire body jewellery and much more aremade coming from gold.

  • Pingback: iherb coupon

  • http://www.gettinghitchedphotography.com/ http://www.gettinghitchedphotography.com/

    discount tiffany jewelleryincludes a number of jewelry for ones wedding ceremony; wedding planning neck laces, rings, happens to be and so on. Preparing costume for halloween jewellery might be products inside a variety of products as well as colors blend; yellow metal coated or perhaps rare metal coated along with treasures together with gemstones,silver jewellery tiffany,in different color mixture which putting in a contented beauty in your direction.

  • http://http//www.lampk.com LED Bulb

    I do not even know how I ended up here, but I thought this post was good. I don’t know who you are but definitely you’re going to a famous blogger if you are not already Cheers!

  • http://CamWhore.net/ whores webcam

    Thanks for just about every other superb report. Where else could anybody get that sort of information in such a best approach of writing? I have a presentation subsequent week, and I’m in the appear for such information.

  • http://www.lampk.com/led-bulb-shop.html LED Bulb Shop

    Hi there, i just needed to drop you a line to say that i thoroughly enjoyed this detailed post of yours, I have subscribed to your RSS feeds and have skimmed a few of your posts before but this one really stood out for me. I know that I am just a stranger to you but I figured you might appreciate the admiration Take care and keep blogging.

  • http://www.songsaddicted.com/groups/subway-surfers-coin-generator/ subway surf generator

    An outstanding share! I’ve just forwarded this onto a friend who has been conducting a little homework on this.

    And he actually ordered me lunch because I stumbled upon it for him…
    lol. So let me reword this…. Thanks for the meal!!
    But yeah, thanx for spending some time to talk about
    this topic here on your web page.

  • http://concrete-online.ru/?q=user/23005-profile add skype credit free

    Wow! At last I got a web site from where I be capable of actually
    take useful facts concerning my study and knowledge.

  • http://CamGirls.ws/ girl webcam

    we need some smaller and energy efficient microprocessors to support mobile computing“

  • http://LiveGirls.ws/ JasminXXX.net

    An impressive share, I merely with all this onto a colleague who was performing a little analysis inside this. Anf the husband the fact is purchased me breakfast due to the reality I stumbled upon it for him.. smile. So let me reword that: Thnx using the treat! But yeah Thnkx for spending some time to talk about this, I think strongly concerning it and adore reading more about this topic. If feasible, as you become expertise, are you able to thoughts updating your internet site to comprehend particulars? It can be really practical for me. Enormous thumb up within this text!

  • https://www.youtube.com/watch?v=JMl6_0jPaGk&hd=1 keratosis pilaris causes

    Keratosis Pilaris (KP) is often a ancestral skin color problem that has an effect on 40% in the earth’s inhabitants. KP looks like a cluster involving tiny crimson protrusions that are most often that comes with the upper section of your hands, upper thighs, bottom and also a lesser amount of normally about the encounter, which can be wrongly diagnosed with regard to pimple. Though there is absolutely no treat regarding KP, you’ll find methods to address it. We can demonstrate just how.

  • Pingback: Roof Repair Colorado Springs

  • http://xunmeng.org/ Have A Peek At This Site

    cheap tiffany ringscover a wide range of rings for your big event; wedding ring charms, necklaces, groups and so forth. Preparing attire precious jewelry is usually crafting in the variety of material in addition to color selection blend; golden coated and even silver coated by using jewelry together with brick,cheap tiffany and co jewelry,in several coloring collaboration which incorporating a cheerful great beauty for you.

  • Pingback: iherb coupon code

  • Pingback: iherb coupon

  • http://www.whereto-buygarciniacambogia.com where to buy garcinia cambogia extract

    I am curious to locate out what blog platform you happen to be working with? I’m experiencing some minor security challenges with my most recent web site and I’d prefer to locate a thing far more risk-free. Do you might have any suggestions?

  • http://tecnodialogo.com.br/talento/blog/view/81437/what-you-need-to-know-about-using-wordpress Brandi Thulin

    Hi! I discovered your website accidentally today, but am genuinely pleased that we did! Its not only entertaining, but in addition straightforward to make use of in contrast to lots that Ive viewed!

  • Pingback: iherb coupon

  • http://www.wilsonssaddlery.co.uk/replica-tiffany-co-jewelry.php replica tiffany jewelry

    red certainly is the ticker colour of vintage and stylish replica tiffany jewellery. There’s many a special day or possibly situation that will require a wonderful piece of replica tiffany fine jewelry while you are keen to discover a bit of one of a kind designer replica tiffany expensive jewelry of which highlights your thing plus girls. Though, when you’re to your mall, you stumble upon the standard thing in just about every store.

  • http://cfcc.co.uk/ ralph lauren outlet online

    cheap tiffany necklaces may be most certainly understood to be Earrings manufactured from cost-effective components along with replica and even semiprecious stones. What’s more, it named model bracelets, rubbish expensive jewelry it considered was designed like a more affordable and inexpensive designed for repurchasing that allows you to in good shape an extraordinary not to mention fresh halloween costume design.they’re just for the most part manufactured from cheap ,where can i buy tiffany jewelry,jewels like rhinestones and also found in mixture, components silver coated brass

  • http://www.timesrealty.ru/user/Annettesissjic/ jakikantor

    It is in point of fact a nice and useful piece of information. I am glad that you simply shared this useful information with us. Please keep us informed like this. Thank you for sharing.

  • http://dongnai24h.vn/threads/57373-Cong-ty-xay-dung-chuyen-ve-san-cao-su-epdm-va-thiet-bi-san-choi-tre-em.html san cao su epdm tai HN

    Odd , your post arises that has a black hue to it, what shade could be the primary color in your webpage?

  • http://www.youtube.com/watch?v=BIzzC-nbX2k top funny commercials

    we came across a cool site that you just may well love. Take a look in case you want

  • http://rlvtdb.xntu.forum.mythem.es/vertumnu/kontrovers Janetta Ogeen

    Someone essentially lend a hand to make critically posts I’d state. That is the very first time I frequented your web page and to this point? I amazed with the analysis you made to create this actual post amazing. Magnificent activity!

  • http://www.mundoknet.com/curtidas-para-site-e-blog/ Seguidores

    Merci pour la pureté des dire mentionnés ici : on est autorisé à tout de suite s’interviewer sur la sincère signification des arguments que vous-même accusez ici.

  • http://dfsafsakjfhdsfjdgsdgfsd.com suggested internet site

    I frequently read your blog site admin seek out it fascinating. Thought it was about time i show you , Sustain the truly great work

  • Pingback: Carpet Cleaners Jacksonville NC

  • http://www.youtube.com/watch?v=Dtp-0MmQVNE biggest trucks

    below you

  • https://www.youtube.com/watch?v=6hRi9rP-d7Y ira interest rates

    I am pleased that I noticed this weblog , specifically the right information that I was looking for! .

  • http://www.acai.com.sg/about-acai-berry-singapore acai berry singapore

    This net web page is ordinarily a walk-through you discover the data it suited you relating to this and didn’t know who to ask. Glimpse here, and you’ll undoubtedly discover it.

  • Pingback: Vemma reviews

  • http://www.youtube.com/watch?v=JSwfW05F3PM Listing My Home For Sale By Owner

    I bookmared your web-site a few days ago coz your website impresses me.;`~”-

  • Pingback: 401k to gold ira rollover

  • http://www.biobagusa.com/biobag_dog.htm buy viagra

    the time to study or pay a visit to the content material or websites we’ve linked to below the

  • http://cs.nbr.by/index.php?subaction=userinfo&user=Felicianistub ekspres do kawy

    These days of austerity and also relative stress about getting debt, most people balk against the idea of employing a credit card to make purchase of merchandise and also pay for any gift giving occasion, preferring, instead just to rely on this tried plus trusted means of making repayment – cash. However, if you’ve got the cash available to make the purchase completely, then, paradoxically, that’s the best time to be able to use the credit cards for several reasons.

  • http://vimeo.com/regenerativeleadership regenerative leadership institute

    each basketball and football are sports that are pretty close to my heart. i enjoy them each but football is my passion..