you are all educating me on the financial market and debacle that could take place…I do find it worrisome as to how this will affect the overall economy.
JG,
I read the article you posted as I grew up in the Chicago burbs and am very familiar with Barrington area.
Being a Gen Xer, it is very clear to us that job stability/security ‘ain’t what it used to be’. My husband and I both were downsized by the last tech bust (company in Irvine we both worked for went from over 3k employees to about 500-700 within 3 years).
What this article shows is that the majority of people have experienced job instability and you would think this would have a major impact on psychology…even a small hiccup in the economy/wall street markets and spending will pull back-i.e. recession.
Our experience at such a young age taught us many lessons that I am grateful for. This is why we are very conservative with our housing position and hope to pay off a home sooner rather than later…if the worst case scenario plays out in the economy, we would like to weather the storm with a roof over our heads.
