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 (297)	8/24/2001 7:35:58 AM
From: Tom Gordon	Read Replies (1) of 306849

Ramsey, the tight labor force was that of specialty in nature, we don't have that problem now, we have people clamoring for any job, lower paying which is fudging the nos., this still leads to the over burdensome debt load the consumer has and they will grapple at any thread in order to stay above water. The noose is tightening and I'm hearing more horror more frequently now than ever. One in fact I'll share with you that I was told last night. A gent working at a predominant tool and die manufacturer was laid off last June, went to work for a competitor after begging for his expertise, the co. was down sized in 6 weeks, thus eliminating his job, skilled trade and out of work and debt up to keester. Was dragging down 6 figures with over time, now on UE benefit. What happens when these benefits run out in time? That's when it really gets ugly! Ramsey, do you have any contacts within the foreclosure foray that you can share info with us? TG.

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