The Housing Market is Not Rapture Ready

Brian J Dunn points out an aspect of the Rapture I hadn't considered: thousands, even millions, of new housing vacancies coming onto an already oversaturated market.  If you notice your more religious neighbors go missing at 6 pm this evening, you should be prepared for the possibility that not only will Satan be freely walking the earth for seven years as 75% of humanity perishes in earthquakes, fires, and plague, but also that home values could fall as much as another 10%, leading to further weakening of economic growth, and great financial hardship for families with underwater mortgages.

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Megan McArdle is a columnist at Bloomberg View and a former senior editor at The Atlantic. Her new book is The Up Side of Down.

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