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The housing market crisis in America

Man I hate being a downer but the future just looks horrible. We know 2 family, one a relative and the other just people we know that have had to put their homes up for sale recently due to not being able to afford their house payments. They have already sold their vehicles and dropped down but the rising city costs of power/sewer/water/insurance and food prices rising so fast around them that they just can't afford to make their house payments anymore. They have lived there for years now but have their home listed about the same they paid for hoping just to break even and pay back the back. Sad times were going into. Also have noticed more and more people living out of their vehicles around here this year alone. Before it was people living in RVs but they can't afford the RV lot rent so they are moving to their cars to move them around on the streets.
 
I was talking to a neighbor who is a realtor yesterday...We were talking about the 7.5% interest rates on the 30 year and he said that people are still buying and it hasn't slowed down much. And not cash offers either. Pretty crazy.
 
I was talking to a neighbor who is a realtor yesterday...We were talking about the 7.5% interest rates on the 30 year and he said that people are still buying and it hasn't slowed down much. And not cash offers either. Pretty crazy.
It's probably the end of the world mentality. Either that or they don't understand math. I can't even foresee America still being around 30 years from now.
 
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