The signs are ominous: Most families are working harder and harder just to keep even, with wages not keeping pace with productivity since the 1970s. With jobs being exported to foreign countries and underemployment becoming the norm, the last bastion of wealth for the average American, the family home, is succumbing to a speculative bubble and the end of this long-term secular decline in interest rates. With credit cards maxed out, savings rate non-existent, and the Republican congress removing any vestigages of the social safety net erected by FDR, I see depression era food lines, and hobo eccampments. I remember well my mother telling me about how our family bearly survived during the depression; one winter only by eating potatoes found in a forgotten fallow plot of ground. It looks like that time has come again.

From Bay Area Housing Bubble Wiki