This Associated Press article says seniors who remember the Great Depression say what is happening today is nothing like that (yet). They are, of course, correct. At its height, the Great Depression of the 1930s ran unemployment rates around 25% while today we aren't at half that.
We are likely to have a relatively serious recession but a 1930s-style depression is not likely. And perhaps, at the far end of the recession, we will have housing prices that make home ownership affordable for average people.
