12 Signs That the Worst Housing Collapse in U.S. History is Getting Worse

U.S. housing prices have fallen further during the current economic downturn than they did during the Great Depression. Right now there is a gigantic mountain of unsold homes in the United States, but demand for unsold homes is at extremely low levels. Whether prices go down any further or not, the housing crash is absolutely unprecedented.

Business Insider lists 12 reasons that the housing collapse is getting worse. Here are a few

  • Approximately 11 percent of all homes in the United States are currently standing empty
  • The home ownership rate has fallen all the way back to 1998 levels
  • The number of homes that were repossessed reached the 1 million mark for the first time ever during 2010
  • 8 million Americans are at least one month behind on their mortgage payments
  • 12 months from today, an estimated 20 million people will be underwater on their mortgages -- 28 percent of all homes

To see the rest of the reasons, you can click on the link below.

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