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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Wyätt Gwyön who wrote (17750)2/24/2004 11:07:14 AM
From: fattyRead Replies (1) of 306849
 
>the bigger problem is that US engineers, while bright in engineering, are dumb in the area of finance and thus have high debt burdens like the rest of the profligate US consumerocracy. so when they get laid off from IBM and have to work at Home Depot or wherever, they may find that their cash flow cannot cover their debt-service nut.

I think the real estate,taxes and health care are to blame for this. My salary has increased 300% over the past 10 years. Yet my disposable income after real estate, taxes, health care, child care, insurance is only about 50% more than 10 years ago. Thanks to cheap chinese imports, I still can afford to consume without piling up my credit card bills.
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