[dalereed]

When the forclosures start it's going to generate into a landslide.

[SauronOfMordor]

When the forclosures start it's going to generate into a landslide.

It's going to be interesting. As more middle-class people go 6+ months unemployed, they will find it harder to meet mortgage payments. The first ones to get out will be able to get prices exceeding their outstanding mortgages, but the later ones won't. With too many houses on the market, the banks will have to sell for whatever they can get -- renting it out until the market improves only works if you have somebody competent on top of things to make sure that the tenants dont trash the place.

[arete]

Ever hear of intergenerational 100 year mortgages? Japan uses/used them when their real estate bubble burst. They work just like government debt -- your kids get to pay for everything.

Richard W.

[B4Ranch]

We are basing our prosperity on even higher mountains of debt. To give you the size of that debt since 1998 the U.S. credit system has generated $9.7 trillion of debt taking our outstanding debt to $30.4 trillion.

How can we be financially secure when our government (we the people) owe $30.4 trillion? We need to get rid of the Federal Reserve and their way of thinking. Any month that I wasn't able to completely pay off my credit cards I was uncomfortable.

[B4Ranch]

Stock Market Crashes Are Predictable; Major Decline Is Coming in 2003 and 2004, Says UCLA Physicist