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Ex-SD
ParticipantWhat’s happening in France and the rest of the EU is what is going to happen in the USA is that there is going to be a growing, wider divide between the middle class and the upper middle class. The middle class family is running at least two cars and usually feeding two adults and one or two children. With the cost of gas and food rising higher and higher and wages stagnating because business’ has slowed in most sectors, it’s going to get pretty tight for a lot of families.
I really liked XBoxBoy’s response. He’s restored my faith in the government and figured out how we’re going to beat inflation.
ParticipantWhat’s happening in France and the rest of the EU is what is going to happen in the USA is that there is going to be a growing, wider divide between the middle class and the upper middle class. The middle class family is running at least two cars and usually feeding two adults and one or two children. With the cost of gas and food rising higher and higher and wages stagnating because business’ has slowed in most sectors, it’s going to get pretty tight for a lot of families.
I really liked XBoxBoy’s response. He’s restored my faith in the government and figured out how we’re going to beat inflation.
ParticipantWhat’s happening in France and the rest of the EU is what is going to happen in the USA is that there is going to be a growing, wider divide between the middle class and the upper middle class. The middle class family is running at least two cars and usually feeding two adults and one or two children. With the cost of gas and food rising higher and higher and wages stagnating because business’ has slowed in most sectors, it’s going to get pretty tight for a lot of families.
I really liked XBoxBoy’s response. He’s restored my faith in the government and figured out how we’re going to beat inflation.
ParticipantWhat’s happening in France and the rest of the EU is what is going to happen in the USA is that there is going to be a growing, wider divide between the middle class and the upper middle class. The middle class family is running at least two cars and usually feeding two adults and one or two children. With the cost of gas and food rising higher and higher and wages stagnating because business’ has slowed in most sectors, it’s going to get pretty tight for a lot of families.
I really liked XBoxBoy’s response. He’s restored my faith in the government and figured out how we’re going to beat inflation.
Participantcooprider: I agree with you. I can see how many non-bubble markets may be at the bottom by the beginning of 2009 but SoCal is likely to see falling prices into 2012 due to overwhelming inventory, large future ARM resets, buyers not being able to qualify for loans, etc etc etc.
All of this is going to put enormous pressure on ALL areas. People who are well entrenched with secure jobs (if there is any such thing, anymore) and real equity in their homes will be o.k. All others (many of whom believe that they are o.k.) need to wise up and take a hard look at their future if they are already or are going to be upside down in their homes and will have to sell due to loss of jobs, divorce, unaffordability due to upcoming ARM reset, etc.
Participantcooprider: I agree with you. I can see how many non-bubble markets may be at the bottom by the beginning of 2009 but SoCal is likely to see falling prices into 2012 due to overwhelming inventory, large future ARM resets, buyers not being able to qualify for loans, etc etc etc.
All of this is going to put enormous pressure on ALL areas. People who are well entrenched with secure jobs (if there is any such thing, anymore) and real equity in their homes will be o.k. All others (many of whom believe that they are o.k.) need to wise up and take a hard look at their future if they are already or are going to be upside down in their homes and will have to sell due to loss of jobs, divorce, unaffordability due to upcoming ARM reset, etc.
Participantcooprider: I agree with you. I can see how many non-bubble markets may be at the bottom by the beginning of 2009 but SoCal is likely to see falling prices into 2012 due to overwhelming inventory, large future ARM resets, buyers not being able to qualify for loans, etc etc etc.
All of this is going to put enormous pressure on ALL areas. People who are well entrenched with secure jobs (if there is any such thing, anymore) and real equity in their homes will be o.k. All others (many of whom believe that they are o.k.) need to wise up and take a hard look at their future if they are already or are going to be upside down in their homes and will have to sell due to loss of jobs, divorce, unaffordability due to upcoming ARM reset, etc.
Participantcooprider: I agree with you. I can see how many non-bubble markets may be at the bottom by the beginning of 2009 but SoCal is likely to see falling prices into 2012 due to overwhelming inventory, large future ARM resets, buyers not being able to qualify for loans, etc etc etc.
All of this is going to put enormous pressure on ALL areas. People who are well entrenched with secure jobs (if there is any such thing, anymore) and real equity in their homes will be o.k. All others (many of whom believe that they are o.k.) need to wise up and take a hard look at their future if they are already or are going to be upside down in their homes and will have to sell due to loss of jobs, divorce, unaffordability due to upcoming ARM reset, etc.
Participantcooprider: I agree with you. I can see how many non-bubble markets may be at the bottom by the beginning of 2009 but SoCal is likely to see falling prices into 2012 due to overwhelming inventory, large future ARM resets, buyers not being able to qualify for loans, etc etc etc.
All of this is going to put enormous pressure on ALL areas. People who are well entrenched with secure jobs (if there is any such thing, anymore) and real equity in their homes will be o.k. All others (many of whom believe that they are o.k.) need to wise up and take a hard look at their future if they are already or are going to be upside down in their homes and will have to sell due to loss of jobs, divorce, unaffordability due to upcoming ARM reset, etc.
Participantgromit: If your friend didn’t take a huge second or heloc on that house, it looks like he walked away with a chunk of change considering that he owned the home for 18 years, paid down the mortgage (or paid it off) and sold it for $320k more than he paid for it.
–Date Sold—–Price
04/28/2008—-$900,000
04/03/1990—-$580,000
09/20/1983—-$262,500Participantgromit: If your friend didn’t take a huge second or heloc on that house, it looks like he walked away with a chunk of change considering that he owned the home for 18 years, paid down the mortgage (or paid it off) and sold it for $320k more than he paid for it.
–Date Sold—–Price
04/28/2008—-$900,000
04/03/1990—-$580,000
09/20/1983—-$262,500Participantgromit: If your friend didn’t take a huge second or heloc on that house, it looks like he walked away with a chunk of change considering that he owned the home for 18 years, paid down the mortgage (or paid it off) and sold it for $320k more than he paid for it.
–Date Sold—–Price
04/28/2008—-$900,000
04/03/1990—-$580,000
09/20/1983—-$262,500Participantgromit: If your friend didn’t take a huge second or heloc on that house, it looks like he walked away with a chunk of change considering that he owned the home for 18 years, paid down the mortgage (or paid it off) and sold it for $320k more than he paid for it.
–Date Sold—–Price
04/28/2008—-$900,000
04/03/1990—-$580,000
09/20/1983—-$262,500Participantgromit: If your friend didn’t take a huge second or heloc on that house, it looks like he walked away with a chunk of change considering that he owned the home for 18 years, paid down the mortgage (or paid it off) and sold it for $320k more than he paid for it.
–Date Sold—–Price
04/28/2008—-$900,000
04/03/1990—-$580,000
09/20/1983—-$262,500 -
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