HI Bonnie;
biz.yahoo.com
No mention of the lay offs, I live close to Angleton,
it's not a big place, it's my understanding that every
one at the local plant was laid off, from the Janitor
right on up, it's being closed.
Houston news is bad too, mostly oil related at this time,
but as they lose jobs, then the places that support them
start to cut back. It's not looking like growth to me.
I expect to see HOUSE FOR SALE signs start to pop up in
this area, real estate values will fall.
So low interest rates are not so low, if you buy a
100K house now and take out a mortgage to find that
next year the 100K house is worth 75K, or less.
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Then if you have to move to find a job, you lose your down
payment, ( and any equity you might have in one; that is
if you owned it long enough ) Last time we went through this people were having to "Pay" to get from under the loan, if they didn't
want a bad credit report. Now I'm beginning to understand
another reason why the mortgage companies are in deep du du.
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Another S&L type debacle coming up with a spin on it,
I wonder who will get to eat all the bad loans this time.
Jim
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