Or the end of suburbia as some call it.
America's Big, Fat Housing Inventory: The supply of homes for sale is at a nine-year high, and housing inventories across the U.S. are swelling dangerously
Next Stop: $100 Oil?
Some analysts say record highs are only the beginning. Traders betting on rising global demand could push prices up further
Oil prices jump after inventories fall (right now oil is $93.38/barrel)
The scenario is simple and is happening now. Crude oil production has topped out at 85 million barrels of oil per day while demand growth continues -> Gasoline prices continue to rise -> American consumers get squeezed by paying for their commute to work -> At some point commuting becomes too expensive so families look to move closer to their employer -> There's already a housing glut so these houses don't sell while families who can afford it move into the cities creating an urban housing crisis as there will be more demand than supply -> Businesses go out of business due to energy costs -> America's farmers and urban dwellers get by but suburbanites become isolated without jobs and unable to sell their homes. Sad...
This may be the beginning of The Mega-Nubble. Marketwatch - Global megabubble?
And I'm not the only person thinking about all the scary things today.
This Chart Will Scare You
...let me show you a chart that will really scare the bejeezus out of you …
