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10 Reasons Why the Economic Recovery is Still Out of Sight

Reblogger Nicole Thome
Real Estate Broker/Owner with Open Door Auctions

From our CEO Jason Hartman; read more about investing in income property nationwide with our 'sister' company Platinum Properties Investor Network.  Search Income Property available nationwide!

Original content by Jason Hartman

I believe the very survival of our American way of life is at stake. I recently noted a post at EndTimeInfo.com elucidating 10 coherent reasons that the "recovery" trumpeted in our faces over the past year and a half has been the very definition of a fraud.

Take it away Endtimers. We couldn't have said it better ourselves...

1) In 2009, when the media claimed the economic “recovery” had begun, oil prices averaged $54 dollars a barrel. In the 24 months since, the cost has doubled. Americans are paying more and more to fill up at the pump with Goldman Sachs predicting that gas will hit $5 dollars a gallon by summer. This figure was already reached in Washington DC two months ago. Far from representing a “recovery” this is in fact another crippling expense that many Americans people simply cannot afford.

2) The housing market has shown no “recovery” whatsoever. The collapse in US house prices “is now greater than that suffered during the Great Depression.” Prices have plunged by 33 per cent since 2007. Home ownership is at its lowest level for 20 years.

3) The collapse in home ownership has flooded the rental market, leading to massive inflation “pushing up the cost of leases across the nation’s 38 million rented residences,” reports Bloomberg. Far from enjoying a “recovery,” US citizens lucky enough not to be stuck in underwater mortgages are instead paying through the nose for rental inflation that represents a huge chunk of the overall consumer price index.

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Not a real person
San Diego, CA

Jason's first three reasons seem to be using national averages, which specialize in doom and gloom. Fortunately, our real estate market in our San Diego neighborhoods is local, and many of them are doing quite well.

Happy Tuesday!

Jul 25, 2011 11:39 PM