As a result of the collapse of the housing bubble, families across all age groups will see a substantial reduction in their wealth compared to the 2001 and 2004 levels. Per the following projections...

 

Submitted: Aug 7, 2008    Views: 112    Comments: 1    Likes: 1   


View Article: http://www.savingtoinvest.com/2008/08/housing-crisis-and-wealth-dec...


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thedorightman
(Unregistered)

If a person says they will go broke if they can't sell their house, then they were broke when they bought it. All this talk about net worth is so self delusionary. There is no net worth on "bubble properties". The housing market is not crashing, all it is doing is showing the realtors {who get away scott free} for what they are; the mortgage brokers {who get away scott free} for what they are; and the bankers {who get to walk away while the general population pays for this huge mess} for what they are.
It will take time, but eventually it will become so obvious that even the "dumb as doorknobs" lazy consumers will realize that owning a home, even with the tax deduction scam associated with it, is not a good deal anymore. Looks like the future buyers are all going to be illegal aliens from third world countries, who get "shoehorned" in on the next financial scam.

Posted: Aug 23, 2008



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