US Housing Crisis Is Now Worse Than Great Depression

CNBC reports:

It's official: The housing crisis that began in 2006 and has recently entered a double dip is now worse than the Great Depression.

Prices have fallen some 33 percent since the market began its collapse, greater than the 31 percent fall that began in the late 1920s and culminated in the early 1930s, according to Case-Shiller data.

Keynesian economists said this could never happen because of aggregate demand management policies of benevolent economists wisely overseeing the economy.