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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Patricia Trinchero who wrote (175578)1/7/2009 11:37:26 AM
From: bentwayRead Replies (1) of 306849
 
" the meltdown of the housing sector is adversely affecting everything in the country"

Traditionally, houses have been the main savings and wealth creation "vehicle" for middle class Americans - the bedrock of their prosperity. Middle class American consummers are the engine of the world economy.

My take is, it all started to go south when Wall Street cooked up ways to tap those middle class savings locked up in houses and leverage them. Now, they've f*cked the entire world.
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