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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: benwood who wrote (183298)7/25/2002 12:41:31 AM
From: Joan Osland Graffius  Read Replies (4) of 436258
 
Ben,

In 1987 very few people were in the market and were not hurt by the down draft.

This real estate bubble is a joke. In 1987 people had savings to take care of a potential lay off as we were in boom and bust periods. If one purchased a house they were required to pay down 20%, (I can not remember) but the mortgage payment was a relatively small percent of net income.

I believe unemployment today is higher than the government statistics. I have a couple of neighbors where the kids are moving home to their parents with the grandchildren. Looks to me like the telecom industry is not finished with lay offs and IMO the utility sector is the next to cleanse the debt and employees. My utility providers are Quest, REI and XEL. When I look at their balance sheets I can see BK's in their futures. It is going to be fun living in a third world environment!!!!!!

Joan
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