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Reply #115: here's something you might want to read [View All]

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StarsInHerHair Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jun-06-11 12:49 AM
Response to Reply #48
115. here's something you might want to read
http://www.washingtonsblog.com/2011/06/housing-prices-h... "Saturday, June 4, 2011
Housing Prices Have Already Fallen More than During the Great Depression ... How Much Lower Will They Go? The folks at Capital Economics write in with this gloomy tidbit: The further fall in house prices in the first quarter means that, on the Case-Shiller index, prices have now fallen by more than they did during the Great Depression.

By their calculations, prices are now down 33% from their 2006 peak, compared with the 31% decline during the Depression."

http://www.independent.co.uk/news/business/news/us-hous... " US house price fall 'beats Great Depression slide'

By Stephen Foley

Wednesday, 1 June 2011"

http://www.businessinsider.com/gary-shilling-house-pric...

GARY SHILLING: And Now House Prices Will Drop Another 20%
Gary Shilling, A. Gary Shilling & Co. | Mar. 26, 2011, 9:20 AM | 284,972 | comment 53

A A A


Gary Shilling

Image: A Gary Shilling & Co.
Last October, when everyone was jubilant about the housing "recovery," Gary Shilling of A. Gary Shilling & Co., predicted that house prices would fall another 20%

http://www.washingtonsblog.com/2011/06/unemployment-dur...

Here is a comparison of Lebergott and Darby's unemployment figures:


Year Lebergott Darby

1929 3.2% 3.2%

1930 8.7% 8.7%

1931 15.9% 15.3%

1932 23.6% 22.9%

1933 24.9% 20.6%

1934 21.7% 16.0%

1935 20.1% 14.2%

1936 16.9% 9.9%

1937 14.3% 9.1%

1938 19.0% 12.5%

1939 17.2% 11.3%

1940 14.6% 9.5%

For example, economist John Williams puts current U-6 unemployment at 15.9%. That's higher than 9 out of 12 years charted by Darby

And there are certainly Depression-level statistics in some states. For example, official Bureau of Labor Statistics numbers put U-6 above 20% in several states:

California: 22.0

Nevada: 23.7

Michigan 20.3

(and Los Angeles County has 24.1% unemployment, higher than any of the Depression years as reported by Darby)



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