This article from the New York Times is incredible. It really describes the face of the housing market in the US.
-2.8 million homes received foreclosure notices last year
-home prices have fallen from $500,000 to $150,000
-United States is expected to add another 100 million people by 2050
This opinion column really describes the state of America in the post real estate boom years. It is an interesting contrast to Iceland. Even though Iceland is going through something so similar, the real estate boom in Iceland almost felt like their efforts to catch up with modern day times. On the contrary Iceland won’t be able to fill their housing as quickly as in somewhere like the US. Americans reproduce at a much higher rate than Iceland.