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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: long-gone who wrote (14498)6/24/2002 1:10:34 AM
From: ubetcha  Read Replies (2) of 80957
 
long-gone,

What part of it do you disagree with? "The American people are running out of money." This is a fact. Americans currently have a negative savings rate. You have to go to Japan to find citizens that are saving for the future.

"The only bubble left is the price of homes." A bubble does not mean that you cannot find some bargins. House prices are still going UP! That does not mean that there are not some that are still fairly priced, or priced in a range that is affordable. What happens if you buy that good home in a good neighborhood for $60K. Then you finance it for $75K because you can, and this allows you to consolidate all your debt under one payment.

Then the market takes the price of the home down to $30K, your wife loses her job, taxes and insurance go up due to fires in the area, and you find that you can not make the payments. You did not have any savings for such a contingency. Did you get a bargin, or did you buy that last tech stock at a PE of 400/1 thinking that it would always go up?

With the markets going down, our savings have crashed. The only source of money left to us is our house. Go to ditech.com or lendingtree.com, and be all that you can be.

Terry
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