Wednesday, October 8, 2014

Housing Prices to Drop, and Americans Choose to be Nomads

While the housing market appears to be improving along with the overall American economy, RUIN (Realty Universal Insolvency Network), a Washington think tank, announced that home prices are set to tumble next year.  With the Federal Reserve due to raise interest rates, and the ensuing bursting of the stock market bubble there is sure to be a collapse in the "frothy" real estate market. Upon hearing this news scores of would-be homeowners as well as current owners of condos, townhouses, and stand alone homes have opted for a nomadic lifestyle.

Millennials seem most prepared for this shift. Many twenty-something year old  men already have the facial hair for hobo life. The US job market creates strange incentives for a wandering lifestyle, the US Department of Labor reports. "With so many full-time positions being replaced by internet based contractors, a worker can easily work a minimum wage shift simply by plugging in at a Starbucks and doing some data processing."

Middle aged adults with children well remember the last housing bubble burst, and have sold their property to purchase a symbol of traditional American resiliency: the covered wagon. "I sold my three bedroom house in the 'burbs for two covered wagons. One of them is for the wife and me, the kids are in the other," stated Gilbert, Missouri native, Richard Kannard. What has sold many on the Ford Blazing Trails 2015 Covered Wagon model is that it is self-propelled, and includes new Google software that means that the traveling home can navigate the highways and byways without a human driver.

Many older Americans have opted for a seemingly strange choice by riding the rails from town to town. Memories of their grandfathers' tales of stealing rides on trains during the Great Depression still resonate with today's seniors. In meeting this new challenge train companies now have security personnel who are trained in old school methods when dealing with freeloaders.

RUIN reports that the tumble in home prices will stop when the Federal Reserve decides to flood the economy again with cheap money so that another real estate bubble can grow. Until then the American dream is hitting the road.