Where Will It End?

I keep asking myself this question.

As you may remember, a year ago, CO and I were considering relocating to the Midwest, but with the real estate market being what it is, we were afraid to take the chance...afraid we wouldn't be able to sell our current residence.

A year later, there seems to be no end to the drop in housing prices, making me grateful we made the choice we did, but terrified that we will be working under the burden of an upside down mortgage for many, many years to come.

At least we have jobs...for now. CO and I attended an Independence Day party back in July, and of the six couples there, we were the only pair that were not either currently unemployed, recently unemployed or excepting to become unemployed at any moment. We left feeling grateful, but nervous. My parents are both still unemployed...my mother since October of 2007 and my father since February of 2008. And now I read that massive post-Labor Day job cuts are anticipated across the country.

I am on the board of a local charitable organization that provides relief, in the form of respite care and counseling, to the at home caregivers of Alzheimer's patients. Since the organization is primarily state funded, they are receiving no money until the state passes its fiscal year budget, which is way past due, and some speculate it may not be passed until after the November elections. As a result, most of the organizations employees will be laid off, and all programs will be suspended until something changes.

On my daily news clips report from a professional organization I am involved with, I see that in addition to the aforementioned post-Labor Day job cuts, unemployment in a nearby county is at its higest rate in 13 years; Southwest Airlines, like all those before it, are cutting at least 6% of their flights and raising prices due to high fuel costs and poor economic performance; the Federal Reserve is planning to raise interest rates; two more banks are waving the white flag, while the rest face new credit hurdles; and that cities across the nation are running out of money.

Everywhere I look people are losing their jobs, their homes, their businesses.

There is no good news anywhere, it seems.

I am left wondering, how much further is rock bottom? Are we close, or can we not even see it yet? Where will it end?