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I am going to say it here. ( I have been saying it privately amongst my friends and family).

Yesterday upon market close I said to myself "it's here, we're in it now"

We have entered the "GREAT DEPRESSION" of the 21st Century.

Let's not forget folks, I was nearly a year early in announcing the Official Beginning of the Recession.  

 

 

I would have posted this on my Blogging Broker site first but Im having problems with it :( 

 

 

Lazarus Realty
Lazarus

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© Randy "Lazarus" McAtee

 
 
This post has been included in California Real Estate News

8 Comments on The "D" Word

FEB
20
2009

While economic times are currently unfavorable, there are major differences between now and the Great Depression. The real estate market experienced a sharp decline that began slowing down last year and should come to a halt this year. In the great depression home and land values decreased to the point of almost entirely diminished value. I believe we are experiencing a natural downward turn that was exaggerated by poor lending practices...but not a depression. 
10:59am • #1
753,117 Points 72 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I hope that it's not the case, but we'll see where it all ends up.  We can hope and pray.
11:10am • #2
708,735 Points 6 Featured Posts Outside Blog Called Shot Master

Mmmmm.....     I think, if we look at this as a sweeping sociatal change, and a globally linked shift, we can see that we'll be reading about this time, in history books, about five years from now.    In the last depression, cash was king, and I don't think it is, this time around.    Might create a demand, then, for good hard asset investment, not to have appreciation, but just to have preservation of capital.    if so, we may see selective real estate rebound.   Not in price rises, but in volume.     Mmmmm...wish we had a crystal ball.   If cash is the next bubble, then....????
11:11am • #3
149,483 Points

Randy - I totally agree - this has not happened in 1 year - it has been going on here for 2 years and we are usually at the end of all the crazy stuff. 
11:18am • #4
154,612 Points

We have entered the "GREAT DEPRESSION" of the 21st Century.

Hi Randy,

We're not even close to Great Depression levels.  Your comment is actually quite puzzling, so I started wondering if maybe Fresno is having a major problem that I wasn't aware of.  I see that's not the case.  I briefly reviewed your local home sales activity.  You have a huge number of homes being sold in Fresno.
11:28am • #5

No worries Bruce, it will catch up to all you backwoods hillbillies soon enuf.  Although, you may be better positioned to weather it.  By some metrics were are probably WORSE than depression levels -- but hey -- we've only just begun!
11:32am • #6
154,612 Points

By some metrics were are probably WORSE than depression levels

Hi again Randy,

What metrics are you referring to?  Jobs?  Banks?  Housing?  Cash?  Food?  Water?  Stocks?  I'm always happy to learn something.  However, I have seen nothing that indicates we are worse than Great Depression levels.
12:08pm • #7

Bruce --- I think that if you look you will see that during the great depression we had a currency that was backed by gold standard not a fiat currency like we have today.

I'm not an analyst or statistician, I'm not even that well educated, you might say I'm a common-sense prognosticator. My grandfather who lived through the depression used to have a really tuff time wrapping his head around the concept of a "million dollars."  

If I decide to give you a more complete answer I might as well make it a blog.
12:25pm • #8

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Randy "Lazarus" McAtee - Owner/Broker Lazarus Realty, Fresno California

Fresno, CA

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Address: 1319 W Bullard #4, Fresno, Ca, 93711

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