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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (35768)	3/26/2007 11:58:36 AM
From: epicure	Read Replies (1) \| Respond to of 541957

The housing crisis has the potential to hurt a lot of people. It's (imo) much worse than the .com crash, because at least that (mostly) hurt people with disposable money in the market- and even if they really needed it for retirement, it wasn't actually the asset they were living in/on. The housing melt down has the potential to devastate the least robust families, and actually make them homeless, and I fear that many elderly folks were duped in to new mrtgs- and then took the cash out for stupid consumer purchases. We have heard people discussing their houses like cash machines, and we never thought it was a particularly wise decision. I do fear the coming problems could be really painful to many many people. I hope I'm wrong.