Housing Market insite

ObiWan

March 13, 2007 08:34

""Their woes may contribute to more than 1.5 million Americans losing their homes and 100,000 people losing their jobs, according to real estate executives, economists, analysts and a Federal Reserve governor.""

http://quote.bloomberg.com/apps/news?pid=20670001&refer=&sid=aY3mu1qdRq94


Home prices are going to be going dooooown.

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  Horse Plains Drifter

  March 13, 2007 11:33

  I just kind of skimmed the article, but have been predicting such an event for a long time. People go hog wild driving up the price of real estate, getting these big azz payments, making payments on one or more cars they can't afford, then their job hiccups and they are sunk. No savings, live beyond your means, credit, credit, credit, I want it now, I want it now, I want it now. It' the American way!
  
  Think of this: This outfit files for bankruptcy, some of their creditors start getting shakey and want the gov't(us taxpayers) to bail them out. GM and Ford are damn near on the ropes now, and are laying off people by the train load. The taxpayers are already stretched thin with huge costs in Iraq and Afganistan(sp?). The foreign countrys that have lent us money start getting worried. Then another Katrina type event, or the bird flu, or both hit this country. This could cause total social and economic collapse in this country, and be the SHTF scenairo we talk about all the time on this board. I have said before, this collapse will not be caused by any certain event, but by an accumluation of events that line up like dominoes.
  
  I would suggest good people start getting debits paid off and saving what they can, it's libel to be a wild ride. Hang on tight!

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