Vicki

Nowhere Near a Real Estate Bottom

The home equity loans made real estate liquid investments, creating losers out of the millions of home owners w/ affordable fixed rate mortgages who partook. These "lines of credit" consolidated credit card debts, w/out cutting individual spending, creating yet another source of foreclosures. It all went hand in hand in our "lend anybody anything" frenzy. And, yea, we can throw blame everywhere, but when will we as a nation help individuals understand that you can't buy something you can't pay for...our national debt is how much today?