With reports that one-third of all homeowners in the U.S. today have negative equity in their homes and further panic at gas stations today thanks to Hurricane Ike about to smash into the Houston area, I think we may be looking at a shift in the way people live.

Historically, the U.S. has been a nomadic society in that people could easily move from one part of the country to another to best serve the lifestyle they chose.  For example, a young couple just graduating from college could have a wonderful job offer on the other side of the country.  While it may be lonely and somewhat daunting to start fresh somewhere else without family or friends, it was entirely possible because it was affordable.  You could fill up the car or buy plane tickets to connect with your family once or twice (or more) each year.  With a solid housing market, even home ownership wouldn’t deter someone planning to move because homes were easy to sell.

However, I believe our society may be in for a drastic change directly due to today’s economic health.  Again with homes having negative equity so people can’t afford to sell, with gas prices being obscenely high, with people barely able to pay for groceries even, now more people may choose to stay put.  However, this very notion of people hunkering down puts on its ear the whole reason nomads existed in the first place - to move to where resources are more readily available.

There are those who do embrace the life of a nomad and a part of me longs to be like them… explore the world, meet new people, experience other cultures.  But I think we’ll be hunkering down again, unless we’re a part of the one in 196 houses currently in foreclosure.  Then we’ll have to be nomadic just to find somewhere else to live.

I can’t leave you for the weekend with just grim news.  Let’s have at least one laugh for the day… an actual picture of a house I was going to show a potential buyer from my MLS.

What in the SamHill were they thinking to even put this picture online?