Tuesday, September 20, 2011

Housing Crisis remains at root of our ongoing economic disaster!

From time to time this blog returns to the housing disaster which affects almost the entire english speaking world. Our leaders try to ignore it, presumably as they either hope it will go away or convince themselves that inflation will cause it to disappear.

In the past this blog has proposed some suggested cures, but I have now tired of re-posting the various links. A survey from the USA today, however, has such startling facts on the ongoing crisis that I felt it necessary to briefly return to the topic (in spite of all the excitement of the continuing slow-motion collapse of the euro). Here are some of the lowlights:

Only those homeowners under thirty and over fifty are now in the majority in thinking that their home equity will add to their retirement funds.

22.5% of all homeowners with a mortgage are now underwater.

68% reported that if they lost their job they would not be able to continue with their mortgage payments after nine months. Typical unemployment extends to almost 10 months

Americans dumped upon by their own politicians, must now face nothing but almost complete dismay, as European leaders continue to play russian roulette with the world's economy!

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