Wealthy may be next in line in U.S. home crisis

[Ex-SD]

http://www.reuters.com/article/inDepthNews/idUSN1530426720080117?feedType=RSS&feedName=inDepthNews&rpc=22&sp=true

HINSDALE, Illinois:
There is a section of the population here that over-extended themselves to buy here and then keep up the facade of wealth,” said Sharon Sodikoff, a broker associate at local real estate agency Prudential Homelife Realty. “In the next year or so they’ll be forced out in dribs and drabs.”

It’s not much of a leap to believe that this would also apply to some of the upper-end neighborhoods in SoCal.

[Bugs]

I’ve been saying for a long time that all these different segments of the RE market are ultimately connected. There’s no way the $3mil house in Rancho Santa Fe maintains 100% of its value during the same time frame a $1mil house in Poway declines by 20%.

[Bugs]

I’ve been saying for a long time that all these different segments of the RE market are ultimately connected. There’s no way the $3mil house in Rancho Santa Fe maintains 100% of its value during the same time frame a $1mil house in Poway declines by 20%.

[Bugs]

I’ve been saying for a long time that all these different segments of the RE market are ultimately connected. There’s no way the $3mil house in Rancho Santa Fe maintains 100% of its value during the same time frame a $1mil house in Poway declines by 20%.

[Bugs]

I’ve been saying for a long time that all these different segments of the RE market are ultimately connected. There’s no way the $3mil house in Rancho Santa Fe maintains 100% of its value during the same time frame a $1mil house in Poway declines by 20%.

[Bugs]

I’ve been saying for a long time that all these different segments of the RE market are ultimately connected. There’s no way the $3mil house in Rancho Santa Fe maintains 100% of its value during the same time frame a $1mil house in Poway declines by 20%.

[patientlywaiting]

I also totally agree.

The boom created a new class of “rich.” The coming recession will undo all of that.

How anyone can talk of any bottom before the depth of an anticipated ugly recession is beyond me.

[patientlywaiting]

I also totally agree.

The boom created a new class of “rich.” The coming recession will undo all of that.

How anyone can talk of any bottom before the depth of an anticipated ugly recession is beyond me.

[patientlywaiting]

I also totally agree.

The boom created a new class of “rich.” The coming recession will undo all of that.

How anyone can talk of any bottom before the depth of an anticipated ugly recession is beyond me.

[patientlywaiting]

I also totally agree.

The boom created a new class of “rich.” The coming recession will undo all of that.

How anyone can talk of any bottom before the depth of an anticipated ugly recession is beyond me.

[patientlywaiting]

I also totally agree.

The boom created a new class of “rich.” The coming recession will undo all of that.

How anyone can talk of any bottom before the depth of an anticipated ugly recession is beyond me.

[cr]

I think the more traditional upper/middle class have more of a desire to appear rich, and to have it all together.

People will bury themselves in debt to appear like they can buy new cars, and refurnish their home, eat at expensive restaurants, to prevent people from discovering they can’t afford their lifestyle. Keeping up with the Jones’ has never been so dangerous.

You don’t get rich by spending money.

[cr]

I think the more traditional upper/middle class have more of a desire to appear rich, and to have it all together.

People will bury themselves in debt to appear like they can buy new cars, and refurnish their home, eat at expensive restaurants, to prevent people from discovering they can’t afford their lifestyle. Keeping up with the Jones’ has never been so dangerous.

You don’t get rich by spending money.

[cr]

I think the more traditional upper/middle class have more of a desire to appear rich, and to have it all together.

People will bury themselves in debt to appear like they can buy new cars, and refurnish their home, eat at expensive restaurants, to prevent people from discovering they can’t afford their lifestyle. Keeping up with the Jones’ has never been so dangerous.

You don’t get rich by spending money.

[cr]

I think the more traditional upper/middle class have more of a desire to appear rich, and to have it all together.

People will bury themselves in debt to appear like they can buy new cars, and refurnish their home, eat at expensive restaurants, to prevent people from discovering they can’t afford their lifestyle. Keeping up with the Jones’ has never been so dangerous.

You don’t get rich by spending money.

[Author]

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