Your comment of the $250 billion in bad debt is based upon the selling price of the structures, I would hope you would take a look too at all the other sectors involved with job losses and stock earnings and price pull backs for....banking, construction, building materials, trucking, real estate agents, mortgage lenders. I've read and have to agree with a another couple of articles in that the net effect loss will be in the 2.9-3.2 trillion dollar range (USD) in just the US alone. Don't forget, this fiasco is going to affect global credit markets.....inflation, here, is on the way big time.
Uh, a loss like that ($3 trillion) would be just $30,000 per HOUSEHOLD in America. Sneezing money.
Now my house may very well go down $30,000 (or more!) but, what the heck, it has gone from $100,000 to $750,000 in the 30 years I have owned it.
You are obviously surprised that I am not bothered by that......and since I don’t owe a dime on it, like millions of other Americans, big deal!
Stop with the sky is falling rhetoric.