NP, Lamoneguy. The main point I was trying to express is that the middle class is getting squeezed from more than one direction, and not just from housing. I believe that, next to housing, healthcare would probably be the next biggest ongoing expenditure for many middle class families.

I am of the belief that the middle class is the most important class in determining the health of an economy. Yes, the wealthy invest in more profit-making ventures and create jobs, and the poor provide much needed services and spend most of their earnings on consumable goods (I’m over-generalizing here). However, the middle class resemblances both the upper and lower classes at times. They often earn enough to save and/or invest it, yet they also are great consumers.

What I worry about most is that the middle class will no longer able to consume at current levels and help keep this economy afloat. I also think we are staying afloat on borrowed time as it is, since much of the consumption over the past 5 years or so can be directly or indirectly attributed to unsubstantiated run-ups in home prices and cheap, easy money in the form of loans.