ph90802, I think you’re right. I was talking to a lady who lives in Coronado a few weeks ago. Her husband’s income is going through a dry patch. It was clear that they were maxed out and already in trouble. A person who has very high mortgage, car payments and boat payments needs a LOT more money to see them through rough patches. Any cash they have will go fast and I think that many people just don’t have the cash. They are living on credit and putting up a good front.
