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Several years ago we had a housing bubble because people with no investment in their property found themselves upside down and rent was cheaper than paying their high payments and then housing prices fell.

Soon people again won't have money to pay their mortgages even though they have worked decades to pay for it they will lose their homes. Who will end up with all those homes? All those financial institutions that Quantitative easing went to. People will be paying rent to the leaches that Obama gave all our money to.

The liars in the press will not likely survive. People starving and homeless don't have a lot to lose and take revenge.

I highly recommend to all my friends, get out of debt and the first debt to get rid of is your mortgage. There are a variety of ways to get the mortgage paid down quickly. Don't treat your self to any luxury, use all available cash to apply to the principal of you mortgage. When you do this a higher percentage of every payment goes to the principal helping you to get rid of the debt even faster.
Don't wait until the end of the year, everytime you can squeeze the minimum amount your mortgage company will take give it to them. and get your interest payments reduced. Most companies will accept $1000.00. That sounds like a lot but isn't what it used to be and the mortgage companies haven't raised it yet.

Once the home prices fall you won't be able to sell your home for what you owe on it. You may have relatives who will want to come and live with you if you have a secure place to live. That may not be all bad, having someone there all the time would be a good thing. They might even be able to pay some rent. If you have a basement it can be lived in even if it isn't finished.

I hate to see all this coming but don't see anyway around it.

Although I agree with your premise, it depends on where you sit and how you could weather the storm in current local.

Banks still have not been foreclosing on underwater homes from the 2006-08 crash. Goes without saying they have not been paying taxes either. Worthless nephew was recently foreclosed on in WA after 4 years without paying.

Banks won't be able to foreclose after the next one either. Tier 1 reserve requirements are 5% and they are pretending their balance sheets have this. The bad loans will blow banks out of the water. This is the major reason Japan has stagnated for the last 20 years. They never cleared out bad loans from the system and ate their citizens savings instead. The good/bad thing is we don't have that luxury/time the Japanese wasted along with the growing percentage of elderly’s savings. Think they will newed their Yen back?