According to the S&P Case-Shiller index, which is a quarterly index that measures residential housing price rates in the US, home prices posted a record decline in October, bringing the losing streak to a disturbing 27 months.

Per CNNMoney.com, the entire nation is suffering, but no region worse than the Sunbelt; Phoenix felt a 32.7% drop since this time last year, with Las Vegas and San Francisco not far behind.

Analysts believe that prices will steadily drop throughout the US if the economy is not stabilized over the next 12 months.

According to a recent report published by CNNMoney, America's current economic crisis is forcing aging workers to utilize retirement funds in order to maintain their current quality of life.

With the stock market out of sorts and the holiday season in full swing, those nearing retirement age are putting their savings towards credit card debt and mortgage payments, instead of preparing for the not so distant future.

Disturbingly, 59% of those polled wouldn't even know how to prepare for a time when they may be unable to work or too old to maintain their current jobs and only 31% of workers take part in a 401K program.

Although experts believe an economic upswing could change these numbers, workers surveyed fear that their futures are in jeopardy and hope that the new administration will address this issue in January.