There is an assumption in Heller's post that people who lose their jobs are somehow not thrifty. It ain't necessarily so. Poor people are, in general, very thrifty, they have no choice. But if your job(s) don't pay much to begin with, any loss of a job is going to be a disaster. Finance gurus recommend that every household have two to three months savings in cash for a rainy day. If you make little, there is no way to save cash for a rainy day. Ergo, every rainstorm is a torrent. WizardMarks, Central
Rosalind Nelson wrote: > > I think there's a serious point hidden in this, that being that the change in > the rental situation could be due entirely to the recession and might not > represent any real improvement. > > It is sickening to find out that some people find satisfaction when others lose > jobs and have mortgages foreclosed. > > Rosalind Nelson > Bancroft neighborhood > > Victoria Heller wrote: > > > As the recession deepens, market values of real estate and rents drop > > too..... > > > > At the end of 2000, mortgage payments over 30 days late exceeded 10% for the > > first time ever (Associated Press 6/13/01) > > > > Americans now owe $7.3 trillion of consumer debt - personal and business > > bankruptcies are skyrocketing (Newsweek 8/27/01) > > > > Home mortgage foreclosures are up 20% year over year (Fox News 11/5/01) > > > > Unemployment rate is 5.7% and growing > > > > Time is kind to the thrifty - people and cities. > > > > Vicky Heller > > St. Paul > > > > _______________________________________ > > Minneapolis Issues Forum - A Civil City Civic Discussion - Mn E-Democracy > > Post messages to: [EMAIL PROTECTED] > > Subscribe, Unsubscribe, Digest option, and more: > > http://e-democracy.org/mpls > > _______________________________________ > Minneapolis Issues Forum - A Civil City Civic Discussion - Mn E-Democracy > Post messages to: [EMAIL PROTECTED] > Subscribe, Unsubscribe, Digest option, and more: > http://e-democracy.org/mpls _______________________________________ Minneapolis Issues Forum - A Civil City Civic Discussion - Mn E-Democracy Post messages to: [EMAIL PROTECTED] Subscribe, Unsubscribe, Digest option, and more: http://e-democracy.org/mpls
