The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Ramsey Su who wrote (295)	8/23/2001 12:40:07 PM
From: Tom Gordon	Read Replies (1) of 306849

Ramsey, see that unemployment figures out today show that they are the highest in nine years, who wants to build or buy in this environment? I know of a chap in the mould industry that was dragging in around 100-120 G a year, went out and mortgaged a $ 450,000 home, two new vehicles on loan, swimming pool addition, kids going into college, has no 401k to use, no rainy day fund and is crying the blues about being in debt for the rest of his life, contemplating selling the house and taking a loss as his wife was laid off and no overtime for him, and his job security is very fragile. His ultimate crush of his full blown ego and status symbolic way of living is teetering on bankruptcy as everything he owns isn't really his. There is your nutshell standard of living in the US. Maxed to the hilt and almost divorced. Regards,TG.

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