By Scott Winnail
The median US home price has fallen over 21% from its peak in 2007 – that is, on average, more than $56,000 per home. Simultaneously, the value of the US dollar has fallen against many world currencies, prompting more than one nation to voice the observation, “America is for sale!”
According to one conservative US economic forecaster, “In terms of the international purchasing power of the dollar, which has declined precipitously, the median price of a single-family home has fallen more than 35 percent to levels last seen in 1998. That’s due to the decline in the international purchasing power of the dollar since 2001, coupled with the decline in housing prices in dollar terms … The decline in the value of the dollar will become an important stabilizing factor in U.S. real estate prices. It means more foreign investors should soon be investing in U.S. property … Indeed, based on my travels, particularly through Asia, and considering especially metropolitan areas and their suburbs in places such as Hong Kong, Singapore, Shanghai and even Bangkok – I would say that U.S. property prices now represent some of the best bargains on the planet” (uncommonwisdomdaily.com, June 29, 2009).
The current world economic situation is sobering to watch from any vantage point. It is emotionally gut-wrenching to watch friends, neighbors and family members lose their homes and property. It is especially sobering to watch the loss of property that has been passed down through a family for generations; property intended as an inheritance for future generations.
On the other hand, these sobering economic events are also arguably exciting, for true Christians, because they are evidence that God is working out His plan here below. God warned long ago that with the declining morality and increasing disobedience to His law among Israelite-descended nations, hard times would come... Click here to continue