> -----Original Message----- > From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On > Behalf Of Alberto Monteiro > Sent: Tuesday, September 30, 2008 11:51 AM > To: Killer Bs (David Brin et al) Discussion > Subject: Re: Economic Recovery Plan > > > Nick Arnett wrote: > > > >> I based my estimates on the data I have - each family is > >> in debt at 3x their properties, each property evaluated > >> at $ 300,000. Am I wrong? Is it more than 1 MM? > > > > Are you talking about personal debt or the U.S. national debt? > > > Personal debt. So, you think I am overestimating the crisis?
Definitely: I think that if you added up, even after the property price drop, the value of the houses, cars, and personal goods and retirement accounts and subtracted mortgages, credit card balances, auto loans, etc., the value of the debt is still only a fraction of the worth. I think I read that the average homeowner has >30% equity in their house, even now. Remember, there was a 50% rise in prices before the 20% drop. Dan M. _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
