by Mj Ferruzza

Created on: February 19, 2009   Last Updated: October 17, 2010

OK! So your $290,000 house has been estimated to be really worth $145,000. Shocker! You try to sell it, but will never make up the difference. Your credit goes bad, you cannot find a new lender, it's time to lease a house or even look into an apartment. Ah! The infamous housing bubble. Instead of just sitting and waiting out the market or some miracle mortgage bailout, here are 3 extreme alternatives to take into consideration.

1. COMMUNAL LIVING. It was used throughout history from the Dark Ages to the Middle Ages and beyond. In fact during the Middle Ages, the rich Baron or castle owner (our representatives, sports stars, celebrities and CEOS today) would have the peons live outside the castle in their own communities. When danger reared its ugly head, they could find shelter in the castle. Then it was back to gleaning the fields.

Communal living is better explained to be many people or families whose day to day lives are intertwined with responsibilities and commitments to the community. Some will cook, some will clean, some will build, some will tend to the children, some will gather, some will remove the refuse, and some will keep order. A peace loving community was seen as utopia during the 60s. The independence of the 70s and the personal greed of the 80s has laughed at those ideals. Now as we sit on the precipice of the largest correction in our nation's (and maybe the world's) history, it may not be all that outdated an idea.

Unfortunately, Communal Living has developed a bad rap over our not so distant past with these examples:

1. Jimmy Jones and Jonestown Kool-aid

2. Manson Family

3. Waco ATF debacle

4. Polygamist child interventions

OK! There is a difference between a life style choice and religious conviction. But all in all, communal living is no different than when you would find 4 generations living together under the same roof during the last Great Depression. truly there is strength in numbers.

2. THE LAW of DEPRECIATION

You buy a car and unless you hold on to it until it becomes a collector's dream or classic, it will depreciate in value. Why doesn't the same apply to homes? Let's set aside an argument about the value of land in a world with exploding population growth and focus on the house. The home owner can make repairs, add additions and stay on top of its upkeep, but at some point it will start to deteriorate. Plumbing, paint, mold, roofing, foundation or attic problems will devalue a house. But, says the market, a house will appreciate

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