... to remember what happened at the last housing bottom (truth is, was too much of an airhead, back then, to pay attention).But here we are ... so many people got into really stupid mortgage situations ... (jeepers, can you believe that some of these arrangements (negative amoritization ... I think it's called) cause the amount you owe on your home to INCREASE as you supposedly pay it off. Good grief, that should be illegal.
But people sign papers and have no clue what they're getting into.
So, payments skyrocket and home foreclosures rise.
All these homes are being sold for dirt cheap, or not selling at all.
Inventory of homes increases and prices fall as people have to GET OUT.
Generation X need homes ... but can't afford current prices (without their inheritance ... too soon for that)
Prices come down, across the board and across the country ... but JOBS are still needed for people living in these homes ... are the jobs here ... or all being farmed out to India and China? I think American ingenuity will create more jobs in the U.S. (but what do I know ?
Okay, here's a new occupation that can't be done by Indian outsourcing ... saw a van driving around (for pet owners) - WE SCOOP POOP ... OUR BUSINESS IS PILING UP
