From this date forward, we will be providing news updates on changes in the global economic, conflict, and civil rebellion conditions. Each post will also provide readers with further tips on surviving the collapse as it unfolds in real time.
Housing prices have begun to fall…
More people are paying more for housing as a percentage of household income…
“A household is considered to be “cost-burdened” if housing costs eat up more than 30 percent of household income. The number of cost-burdened renter households jumped by 299,000 from 2017 to 2018, and is now 2.8 million higher than it was in 2008. The cost burden rate peaked in 2011 at 53.4 percent, and has since fallen by 3.7 percent. However, the number of cost-burdened households is 0.8 percent higher than it was in 2011.” – Source: Apartment List
More households rent their home in 2019 than owned in 2007. Ownership was almost 68% in 2007 and is down close to 64% in 2019. “The Great Housing Reset (aka The Great Recession) has led to growing numbers of single-family homes shifting from owner-occupied housing to investment vehicles for large corporations” – Source: CITYLAB
“More than 18 million households — 1 in 6 — are paying more than half of their income on housing and are considered severely cost-burdened. The largest share of these households includes 9.5 million renters earning less than $30,000 per year and 5.4 million homeowners earning less than $30,000. Severe cost burdens also affect 1.1 million homeowners earning between $30,000 and $44,999, 927,000 renters earning between $30,000 and $44,999, and 731,000 homeowners earning between $45,000 and $74,999.” – Source: Habitat for Humanity
The less you pay for housing now, the more you can save for tough times. The less debt you owe on your home, the less vulnerable your shelter is to economic shocks. The further from a densely populated area you are, the less at risk you and your property are likely to be when your community experiences economic hardship.
Tips – Building greater resilience in your shelter conditions:
- If you own your home, think about trading down. Consider moving to a rural location – a home on productive land (land you can farm and use for other income generating purposes) will not only increase your ability to be self-sufficient but could also provide you with additional cash flow opportunities. The time to sell your home is before the economy goes into free-fall.
- Purchase a secondary housing option in case you have to leave your primary home. Secondary housing options could be a small cabin in a remote area, a 5th wheel trailer, a camper, a recreational vehicle, vacant rural land, a tent, etc.
- If you rent, consider adding a roommate to save money. Look around for cheaper rentals (keeping in mind security considerations). You may find yourself less mobile once a collapse occurs; if you can relocate to a small town or rural setting, set those moving wheels in motion sooner than later.
Whenever you find yourself on the side of the majority, it’s time to pause and reflect.
Blind belief in authority is the greatest enemy of truth.
Dare to think for yourself.