Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Petrol who wrote (17069)	3/20/2002 11:03:57 AM
From: GraceZ	Read Replies (3) of 74559

how do you explain that families nowadays can't get out of massive debt? Basically people have high debt levels because they won't give up the asset side of their balance sheet to pay down the liability side as long as they are able to service the debt. If you are implying that most families have liabilities that exceed their assets I would have to say that the data does not support that kind of conclusion. Families with the highest levels of debt tend to have very high asset values to offset that debt. I think if you were to examine net worth statements over the last ten years you would find that net worth has increased significantly for the average American family over the past ten years at the same time debt levels have grown.

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