The Housing Market is Not Rapture Ready

By Megan McArdle

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.

This article available online at:

http://www.theatlantic.com/business/archive/2011/05/the-housing-market-is-not-rapture-ready/239254/