Already, millions of people are underwater. As housing prices fall, millions more will slip beneath the waves. Some will go down with the ship. But many will take to the lifeboats – sending back the keys instead. This will add to the number of foreclosures and to the inventory of unsold and vacant houses.
August 2nd, 2010 | Bill Bonner | 40 comments | ContinuedAll Posts Tagged With: "foreclosure"
Baby Boomers Figure They Will Have to Work Longer than Expected
A woman loses her house. She stays with friends. She sleeps in her car. She tries to find work. Eventually, she runs out of options and checks into a homeless shelter.
October 21st, 2009 | Bill Bonner | 2 comments | Continued
Being a Homeowner is the Beginning of House-Induced-Bankruptcy
Someone is going to have to pay the piper for all those granite counter tops and plasma TVs. The price tag is staggering and for all the bailouts and stimulus packages, all the government can do is exacerbate the losses and shift the burden through inflation. Nor can the government resurrect bubble home prices and the fantasy of real estate riches that went along with them…
August 5th, 2008 | Mogambo Guru | 9 comments | Continued
