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Case Shiller: The 15 Housing Markets That Will Fall The Most By 2012

• Businessinsider.com/
 
#5 Phoenix, Ariz. Forecast change 2010:Q2 to 2012:Q2: -20.5% Forecast change from peak to 2012:Q2: -61.4% Median home price today: $144,000 Median home price in 2012: $115,000 # 2 Las Vegas, Nev. Forecast change 2010:Q2 to 2012:Q2: -21.7% Forecast change from peak to 2012:Q2: -66.1% Median home price today: $153,000 Median home price in 2012: $112,000

1 Comments in Response to

Comment by Ross Wolf
Entered on:

Obama’s deficit commission recently made proposals to balance the federal budget that include—eliminating the home mortgage interest deduction. That would make current and future home ownership unaffordable for millions of Americans, if forced to use (after tax dollars) to pay non-deductible mortgage interests. No matter how much Obama raises taxes, he will  not reduce the national debt, but continue to spend and tax Americans until they have nothing left; leaving Citizens insurmountable debt.

Government’s Elimination of Home Mortgage Interest Deductions would force home buyers to make low ball offers on houses, further driving down residential property values and property taxes local communities depend. More Local Communities would become dependent on federal assistance at U.S. Taxpayers' expense. It is foreseeable the U.S. under such circumstances could become a nation of young adult renters as senior Citizens die off next decade. Banks could disintegrate if their huge inventory of home mortgages secured by (houses) continue to drop in value. American taxpayers can't afford to cover millions more defaulted home mortgages or pay upkeep on millions more foreclosed empty homes with defaulted mortgages that U.S Government insured.

Many Americans strongly believe Obama intends to destroy the U.S. economy to accomplish a leftist ideology. Whether or not that is true, Obama  appears headed that direction, taking Americans on a ride into an economic abyss they might never  recover.


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