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RSS FeedA Post Halloween Scare |
FIRST THINGS FIRST!
IF YOU HAVEN'T ALREADY...GO VOTE!
I know I've missed Halloween, but if you're still in the mood for something scary, this article definitely fits the bill.
If you don't have time for the full article basically it says we're approaching a record 20% of all homeowners underwater on their mortgages nationally.
Headed into a recession, that's pretty scary. If you lose your job and need to sell your home, what do you do? If you get transferred by your employer and need to sell your home, what do you do?
There is a downward spiral here that someone has to find a way to stop. More foreclosures lead to lower prices which lead to more homeowners under water on their mortgages which leads to more foreclosures when "stuff" happens.
Today's election, whatever the result will not fix everything. But it'll be interesting to see what, if anything, government tries to do on this front in the next few months.
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