mlimberg

Housing Crisis Likely to Wipe Out Two Decades of Family-Earned Wealth

When will people get it? Until the value of "0" changes, which it won't, home prices can only go so high, and they went way beyond what people could ever hope to afford, thye had to reset. Currently we are in the process of resetting. The real value of a home is thousands of dollars less than everyone paid for the past 15 years.

Face it, lose a job in a two income family, it is highly likely you will lose your home, since you likely bought it based on two incomes. Unemployment pays next to nothing. No income is "0" income. Can't amke huge unreasonable house payments on that amount. So, moral of the story, until the value of "0" increases, it is possible that some day you too could find yourself understanding the value of "0" first hand.