[blam]

"Your 200,000.00 house is really worth 50,000.00 and that is all you will be able to sell it for. That’s my take. "

Just houses?

I think he's talking about everything going down in price. And, if that's true, why will it matter? Wages and everything else will follow, right?

[dennisw]

I think he's talking about everything going down in price.

No! You won't be shocked but the average American will be shocked by what assets go down and which ones go up. In an economic crisis like Greece has but over here

[kearnyirish2]

Housing prices and wages have fallen, but grocery staples and gasoline have risen (while the government continues to proclaim that we have no inflation).

I can’t believe the prices on some groceries, and am not surprised that businesses that relied on peoples’ discretionary income (such as restaurants) are getting killed.