Sometimes my Titles are a little over the top, but they are simply there to make the reader think.
A gallon of gas, a gallon of milk, and a loaf of whole wheat bread is now over $4 each in California. Premium gas is approaching $5. Milk is over $4 per gallon in many parts of the country. Minimum wage is about $6-7 dollars depending on where you live. At this rate it won't be long before the minimum wage worker has to exhange an hour of his life for a loaf of bread.
The problem is not only directed to minimum wage workers, it is impacting retired and the rest of the country as well. It is not just the cost of the the above three items that have skyrocketed, it is many many non housing related expenses that have simply spiraled out of control. We as a nation are rapidly approaching a point where many may not be able to simply meet their daily needs, less thinking about buying a house.
The situation has become so severe, our pets are being abandoned around the country. I can understand the shitzus, but the cute collies as well? Imagine a world with no Lassie? Just Google/Yahoo "animal shelters home foreclosures"....it pretty amazing and not limited to any geographic area.
OK, so let's keep lowering interest rates, will Gas and Milk be $8 a gallon? The CPI comes out today, let's see if it reflects reality, or will we be told inflation is contained? Since banks are now making it harder and harder to get a loan, will two families have to start living in one house to make ends meet? What will that do to the supply of housing in America?