02-19-2009, 05:35 AM
$tevie wrote:
What can these people afford? They won't have money for first and last month's rent and their credit rating is shot and they aren't going to get any equity out of their house because they have lost it. Multiply that by the dozens. Remember, you are envisioning right now when in fact we are talking about eventually. Things are supposed to get worse before they get better, why should we sit around like cows waiting to be slaughtered if we can try to start to bring some semblance of normalcy to things right now?
It doesn't matter how much your house is worth if you're not moving. I think most of these people have jobs, so they rent. Bummer for them, but they can live without their McMansions. Or their 2nd, 3rd, or 4th homes, etc. I don't know how bad this would get, but we're not talking Somalia. Nobody's going to starve because of this. kj.