That is actually where we stand on housing as of this moment. It is also the case that we have never gone through such a painful crash without any serious reform to fix the system. Nothing has changed and this is the biggest financial crisis since the Great Depression. Speaking of the Great Depression let us walk through significant events over the 1920s and 1930s and see if we can learn any lessons for our current economic predicament.
Read the rest of the article (with charts) at:
Financial timeline of 10 events from the Great Depression and parallels to our current economy: Lessons from the Great Depression Part 30. When government and financial institutions become one.