Housing Prices Set to CRASH!!!!!
Apartment rents are falling across most of Southern California as unemployed tenants double up with friends or family and the affordability of foreclosed homes makes some renters into buyers, a new survey has found.
The average rent in Los Angeles County fell almost 4% in 2008 as apartment occupancy rates dropped and new units came online. The decline should continue this year as more renters lose their jobs, according to the annual USC Casden Forecast expected to be released by the university today.
As wages continue to fall, jobs get eliminated.....fewer and fewer will be able to afford to live on their own. More and more will be forced to double up on housing.....a trend that very few professionals even factor into their forecasts.....even those CAPS players that analyze housing 24/7....but practioners of Alstrynomics know reality and how it applies to realty.
Until we restructure debt...expect the trend of distressed housing supply to only increase as we move forward. Right now debt is suffocating America and robbing our ability to spend on much of anything. I have been warning you about this for over a year...day after day, week after week, month after month.....
America is running out of money....debt is consuming a greater and greater percentage of income as we try to think of new ways to infect more with toxic borrower syndrome. Debt payments are suffocating Hospital revenue streams taking money away from important patient expenses. Few want to accept that Americans have too much debt and too little cash. Until we restructure debt to more managable levels...our ship will take on more water.
You can live in reality.....or you can keep fantasizing.
I have warned you to find your lifeboat......prepare...don't fear.
Pretty soon cities will not be able to afford to pay police officers due to suffocating debt payments, states will not be able to fund schools due to suffocating debt payments, hospitals will not be able to upgrade technology due to suffocating debt payments, business will not be able to afford to advertise due to suffocating debt payments......
Soon you fools will appreciate Alstrynomics.....trust me.......it ain't hard to see once you open your eyes........