Frank, What you fail to realize is that with each Foreclosure, that number changes, for the better.
The reason it got so bad was because of these bad Loans, and once they work their way out of the System, we are heading back up. Yes, there may be as many as 5% - 7% of Total Mortgages that may end up being affected, overall and those are going to take a bit to work through.. But may I remind you that means that at LEAST 93% will in FACT continue to pay their Mortgages on time without problems. During the Great Depression, that number went up to well over 50%. So let's try to keep a bit of perspective on this, shall we? On Sep 16, 6:07 am, Frank <[EMAIL PROTECTED]> wrote: > Gaar, > > The main concern with the debt is not the collateral, it is the > ability to service it. Last year US debt grew 5.5 times that of GDP, > meaning America can not keep up with current debt repayments and > requires one trillion in loans per annum to finance debt, further > compounding the problem. I can't remember the precise figure (do a > google search), but the average US household debt is over 100% of > income over per annum. Any collateral they have is owned by finance > companies. > > On Sep 16, 10:47 pm, Gaar <[EMAIL PROTECTED]> wrote: > > > > > Perhaps those who have been railing on about this would be good enough > > to also tell us how much "Net Worth" JUST American Households have, > > not including the Net Worth of our Governmental Assets?!?!?!?!? > > > Anyone?- Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
